Live Nation Entertainment Inc. (NYSE:LYV) finished Friday with an addition of $1.09 to close at $84.79, an upside of 1.30 percent. An average of 1,011,400 shares of common stock have been traded in the last five days. There was a gain of $0.40 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 1,833,590 shares traded, while the 50-day average volume stands at 2,118,500.
LYV stock has decreased by -12.52% in the last month. The company shares reached their 1-month lowest point of $81.04 on 07/28/23. With the stock rallying to its 52-week high on 07/28/23, shares of the company touched a low of $64.25 and a high of $101.74 in 52 weeks. It has reached a new high 35 times so far this year and achieved 21.58% or $15.05 in price. In spite of this, the price is down -16.66% from the 52-week high.
Insider Transactions
LYV stock investors should be aware that Live Nation Entertainment Inc. (LYV) stock had its last reported insider trading activity 75 days ago on Jun 12. In this transaction, the insider spent $85,790. EVP & General Counsel, Rowles Michael, disposed of 100,000 shares at a price of $78.00 on May 08. The insider now owns more than $7,800,000 worth of shares. Prior to that, President & CEO Rapino Michael went on to Sale 78,000 shares at $74.41 each on Sep 23. An amount of $5,804,024 was transacted.
Valuation Metrics
Live Nation Entertainment Inc. (LYV) has a trailing price-to-earnings (P/E) ratio of 86.17. The stock’s beta is 1.30. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.01, and the price-to-cash flow ratio at 13.15.
Financial Health
The quick ratio of Live Nation Entertainment Inc. for the three months ended June 29 was 1.10, and the current ratio was 1.10, indicating that the company is able to meet its debt obligations. Live Nation Entertainment Inc.’s EBITDA margin for the year ending June 29 is 7.37%, while its operating margin for the same period stands at 4.70%. Its gross profit as reported stood at $4.34 billion compared to revenue of $16.68 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Live Nation Entertainment Inc.’s return on assets was 1.40%.
Earnings Surprise
For the three-month period that ended June 29, Live Nation Entertainment Inc. had $6.55 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $237.06 million in the quarter, while revenues of -$58.1 million were grew 34.51%. The analyst consensus anticipated Live Nation Entertainment Inc.’s latest quarter earnings to come in at $0.62 per share, but it turned out to be $1.02, a 64.50% surprise. For the quarter, EBITDA amounted to $548.44 million. Shareholders own equity worth $230.15 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Live Nation Entertainment Inc. (LYV) price momentum. RSI 9-day as of the close on 25 August was 39.15%, suggesting the stock is Neutral, with historical volatility in this time frame at 10.36%.
As of today, LYV’s price is $84.16 +0.47% or $0.40 from its 5-day moving average. LYV is currently trading -5.08% lower than its 20-day SMA and +22.33% higher than its 100-day SMA. However, the stock’s current price level is -2.63% below the SMA50 and +15.74% above the SMA200.
The stochastic %K and %D were 15.87% and 13.96%, respectively, and the average true range (ATR) was 1.82. With the 14-day stochastic at 26.71% and the average true range at 2.06, the RSI (14) stands at 39.48%. The stock has reached -0.41 on the 9-day MACD Oscillator while the 14-day reading was at -1.19.
Analyst Ratings
Oppenheimer launched coverage on Live Nation Entertainment Inc. (NYSE: LYV) in its analyst report released on July 21, 2023. The firm assigned the stock an Outperform rating. The consensus rating for Live Nation Entertainment Inc. (LYV) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell LYV, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 13 others rate it as a “buy”.
What is LYV’s price target for the next 12 months?
Analysts predict a range of price targets between $85.00 and $124.00, with a median target of $113.00. Taking a look at these predictions, the average price target given by analysts for Live Nation Entertainment Inc. (LYV) stock is $109.94.
