Live Nation Entertainment (NYSE:LYV – Get Free Report) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday, Zacks reports.
A number of other brokerages have also recently issued reports on LYV. Weiss Ratings cut shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. UBS Group raised their price target on Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Wells Fargo & Company lifted their price target on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $205.00 price target on shares of Live Nation Entertainment in a research report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $197.95.
Read Our Latest Research Report on Live Nation Entertainment
Live Nation Entertainment Price Performance
LYV opened at $174.86 on Monday. The company has a market capitalization of $41.20 billion, a price-to-earnings ratio of -154.75 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm has a 50-day moving average price of $174.62 and a 200-day moving average price of $171.81. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $189.24.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The company had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. Live Nation Entertainment’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. Equities analysts expect that Live Nation Entertainment will post 1.11 EPS for the current year.
Insider Transactions at Live Nation Entertainment
In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the transaction, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at $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 at this link. 2.89% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in LYV. Bank of America Corp DE purchased a new stake in shares of Live Nation Entertainment in the second quarter worth $1,221,398,000. Canada Pension Plan Investment Board purchased a new position in Live Nation Entertainment during the second quarter worth about $859,018,000. Findlay Park Partners LLP bought a new position in Live Nation Entertainment in the 2nd quarter worth about $195,781,000. OMERS ADMINISTRATION Corp increased its stake in Live Nation Entertainment by 5,799.1% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 900,794 shares of the company’s stock worth $137,380,000 after acquiring an additional 885,524 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at about $140,911,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.
Key Live Nation Entertainment News
Here are the key news stories impacting Live Nation Entertainment this week:
- Positive Sentiment: Morgan Stanley raised its price target from $200 to $215 and maintained an Overweight rating, implying substantial potential upside from current levels. Morgan Stanley raises Live Nation price target
- Positive Sentiment: BTIG reaffirmed its Buy rating and set a $215 price target, signaling continued confidence in Live Nation’s concert and live-events outlook. BTIG maintains Buy rating on Live Nation
- Positive Sentiment: Live Nation completed a note sale and extended its credit facilities to 2031, potentially improving financing flexibility and reducing near-term refinancing pressure. Live Nation closes note sale and extends credit
- Neutral Sentiment: MarketWatch reported that LYV gained during Tuesday’s session but underperformed its competitors, suggesting the broader market move was not accompanied by strong relative buying interest. Live Nation stock underperforms competitors
- Negative Sentiment: CFRA downgraded Live Nation to Sell and separately reaffirmed that rating, creating a significant counterweight to the bullish $215 targets and likely limiting enthusiasm for the stock. CFRA downgrades Live Nation to Sell
About Live Nation Entertainment
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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