Live Nation Entertainment, Inc. (NYSE:LYV – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twenty-four research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and twenty have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $197.95.
LYV has been the subject of several research reports. Roth Capital set a $208.00 target price on Live Nation Entertainment in a research note on Friday, July 31st. UBS Group upped their price target on Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Morgan Stanley lifted their price objective on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Benchmark boosted their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st.
Get Our Latest Analysis on Live Nation Entertainment
Insider Activity
In other news, CAO Brian Capo sold 2,900 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.89% of the company’s stock.
Institutional Investors Weigh In On Live Nation Entertainment
A number of institutional investors and hedge funds have recently modified their holdings of LYV. Principal Financial Group Inc. grew its position in shares of Live Nation Entertainment by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after buying an additional 367,624 shares during the period. Bank of America Corp DE bought a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at about $1,221,398,000. Canada Pension Plan Investment Board acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $859,018,000. Independent Franchise Partners LLP raised its position in shares of Live Nation Entertainment by 3.5% in the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock valued at $817,055,000 after acquiring an additional 193,104 shares during the period. Finally, Jericho Capital Asset Management L.P. boosted its stake in Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after acquiring an additional 1,099,350 shares during the last quarter. 74.52% of the stock is owned by institutional investors.
Live Nation Entertainment Price Performance
LYV opened at $170.97 on Tuesday. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $40.29 billion, a P/E ratio of -151.30 and a beta of 1.17. The company’s 50 day simple moving average is $174.79 and its 200-day simple moving average is $171.65. Live Nation Entertainment has a one year low of $125.34 and a one year high of $189.24.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the previous year, the company posted $0.41 EPS. Live Nation Entertainment’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Live Nation Entertainment will post 1.12 earnings per share for the current fiscal year.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.
The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.
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