Why You Need Live Nation Entertainment Inc. (LYV) On Your Watchlist

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Live Nation Entertainment Inc. (NYSE:LYV) saw an upside of 1.40% to close Tuesday at $77.00 after adding $1.06 on the day. The 5-day average trading volume is 1,978,300 shares of the company’s common stock. It has gained $77.71 in the past week and touched a new high 3 times within the past 5 days. An average of 2,051,615 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,494,730.

LYV’s 1-month performance is 8.94% or $6.31 on its low of $68.06 reached on 12/28/22. The company’s shares have touched a 52-week low of $65.05 and high of $126.79, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, LYV has achieved 10.41% or $7.26 and has reached a new high 11 times. However, the current price is down -39.27% from the 52-week high price.

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Insider Transactions

LYV stock investors last saw insider trading activity on Dec 01.Rapino Michael (President & CEO) most recently sold 78,000 shares at $74.41 per share on Sep 23. This transaction cost the insider $5,804,024. President & CEO, Rapino Michael, sold 78,000 shares at a price of $77.97 on Sep 22. Then, on Sep 21, President & CEO Rapino Michael sold 78,000 shares at a price of $83.60 per share. This transaction amounted to $6,520,658.

Valuation Metrics

LYV stock has a beta of 1.27. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.15 while the price to cash flow ratio at 9.33.

Live Nation Entertainment Inc.’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.00.. In terms of profitability, the gross margin trailing 12 months is 26.80%. The firm’s gross profit as reported stood at $1.91 billion against revenue of $6.27 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 87.14% to $331.49 million, while revenue of $155.24 million was 53.17% off the previous quarter. Analysts expected LYV to announce $0.51 per share in earnings in its latest quarter, but it posted $0.66, representing a 29.40% surprise. EBITDA for the quarter stood at more than $628.18 million. LYV stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 15.39 billion, with total debt at $7.55 billion. Shareholders hold equity totaling $230.88 million.

Let’s look briefly at Live Nation Entertainment Inc. (LYV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 69.44% to suggest the stock is trending Neutral, with historical volatility in this time period at 27.00%.

The stock’s 5-day moving average is $74.96, reflecting a +1.16% or $0.88 change from its current price. LYV is currently trading +9.11% above its 20-day SMA, -15.66% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +6.00% and SMA200 by-29.73%.

Stochastic %K and %D was 85.97% and 75.59% and the average true range (ATR) pointed at 2.17. The RSI (14) points at 64.05%, while the 14-day stochastic is at 91.76% with the period’s ATR at 2.19. The stock’s 9-day MACD Oscillator is pointing at 1.34 and 2.31 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Live Nation Entertainment Inc. (NYSE: LYV), Citigroup upgraded it to a Buy rating. They previously had a Neutral rating on the stock. Analysts offering their rating for LYV stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate LYV as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 3 rates the stock as overweight while 11 have offered a “buy” rating.

What is LYV’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $70.00 and a high of $120.00, with their median price target at $105.50. Looking at these predictions, the average price target given by analysts is for Live Nation Entertainment Inc. (LYV) stock is $100.14.

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