The stock of Live Nation Entertainment Inc. (NYSE:LYV) decreased by -$0.56 on Tuesday to finish at $84.28, down -0.66 percent. The last five days have seen an average of 1,337,180 shares of common stock traded. 35 times new highs were reached in the current year, with a gain of $14.54. The average number of shares traded over the last 20 days was 1,487,355, while the average volume over the last 50 days totaled 2,055,664.
LYV stock dropped -3.95% since last month. On 08/18/23, the company’s shares reached a one-month low of $83.23. The stock touched a high of $101.74 on 07/28/23, after rallying from a low of $64.25 in 52 weeks. The price of LYV stock has risen by 20.85% or $14.54 this year, reaching a new high 35 times. Still, the stock price is down -17.16% 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 79 days ago on Jun 12. On Jun 12, Director HINSON JEFFREY T. sold 1,000 shares at $85.79 each. This transaction resulted in the insider making $85,790. On May 08, Rowles Michael sold 100,000 shares at a price of US$78.00. After the transaction, the insider now owns 157,786 shares. Director Iovine Jimmy had earlier bought 13,740 shares on Dec 01 for $73.28 a share. The transaction was completed for $1,006,867.
Valuation Metrics
Live Nation Entertainment Inc. (LYV) has a trailing price-to-earnings (P/E) ratio of 85.65. Beta for the stock is 1.30. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.99, and the price-to-cash flow ratio of 12.88.
Financial Health
For the three months ended June 29, Live Nation Entertainment Inc.’s quick ratio was 1.10, while its current ratio was 1.10, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 25.60% percent. Live Nation Entertainment Inc.’s EBITDA margin for the year ended June 29 was 7.37%, whereas its operating margin stood at 4.70% for the same period. Based on annual data, it had gross profit of $4.34 billion and revenue of $16.68 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. LYV’s return on assets (ROA) during the last 12 months has been 1.40%. There was a 11.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -92.70%.
Earnings Surprise
According to Live Nation Entertainment Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $5.63 billion, while revenues rose by 21.25% to $3.13 billion. It was predicted that Live Nation Entertainment Inc.’s quarterly earnings would be $1.02, but it ended up being $0.62, beating the consensus by 64.50%. EBITDA was $548.44 million for the quarter. At the end of Live Nation Entertainment Inc.’s most recent quarter ended June 29, its liabilities totaled 19.55 billion, while its total debt was $8.41 billion. Equity owned by shareholders amounts to $230.15 million.
Technical Picture
Here’s a quick look at Live Nation Entertainment Inc.’s (LYV) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 35.78%, suggesting the stock is Neutral, with a 10.51% historical volatility rate.
The stochastic %K and %D were 27.91% and 22.08% respectively, while the average true range (ATR) was 1.64. Based on the 14-day stochastic reading of 23.76%, the RSI (14) reading is 37.68%. On the 9-day MACD Oscillator, the stock is at 0.32, and the 14-day reading is at -0.39.
Analyst Ratings
In its analyst report released on July 21, 2023, Oppenheimer began covering Live Nation Entertainment Inc. (NYSE: LYV). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned Live Nation Entertainment Inc. (LYV) an Overweight rating. LYV is a stock that is recommended for selling by 1 brokerage firm, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 13 others recommend it as a buy.
What is LYV’s price target for the next 12 months?
The current consensus forecast for the stock is between $85.00 and $124.00, with a median target price of $112.50. In analyzing these forecasts, the average price target given by analysts for Live Nation Entertainment Inc. (LYV) is $109.11.
