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Live Nation Entertainment Inc.’s Stock Price Soared Recently, But There Might Be Trouble Ahead

Live Nation Entertainment Inc. (NYSE:LYV) traded at $66.24 at last check on Tuesday, November 22, made a downward move of -1.05% on its previous day’s price.

Looking at the stock we see that its previous close was $66.94 and the beta (5Y monthly) reads 1.34 with the day’s price range being $66.135 – $68.37. The company has a trailing 12-month PE ratio of 89.37. In terms of its 52-week price range, LYV has a high of $126.79 and a low of $65.05. The company’s stock has lost about -15.83% over that past 30 days.

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Live Nation Entertainment Inc. has a market cap of $16.77 billion and is expected to release its quarterly earnings report on Feb 21, 2023 – Feb 27, 2023. Estimates by analysts give the company expected earnings per share (EPS) of $1.03, with the EPS growth for the year raised at $0.57 for 2022 and $1.13 for next year. These figures represent 118.40% and 98.20% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $5.1 billion, with a low of $4.85 billion and a high of $5.41 billion. The median projection represents growth squeezing down to 88.90% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $14.83 billion, or 136.50% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the LYV stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Looking further, we note the current price level is -11.68% off its SMA20 and -15.24% from its 50-day simple moving average. The RSI (14) is pointing at 31.28 while the volatility over the past week is 5.78% and jumps to 5.01% over the past one month. The beta value is 1.30, while the average true range (ATR) is currently pointing at 3.66.

Let’s briefly compare Live Nation Entertainment Inc. (LYV) stock to its peers. We find that today’s price change of -1.05% and -40.52% over the past 12 months for LYV. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.72% and 0.82%, respectively, in early deals.

Coming back to Live Nation Entertainment Inc. (NYSE:LYV), we note that the average 3-month trading volume was 2.05 million, while that of the preceding 10-day period stands at 3.78 million. Current shares outstanding are 225.76 million.

The insiders hold 2.30% of the company’s shares while institutions hold 71.90%. The data shows that short shares as of Oct 13, 2022, stood at 12.93 million at a short ratio of 6.86. This represents a 5.62% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 14.28 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -44.07% down in year-to-date price movement.

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