Live Nation Entertainment (NYSE:LYV – Get Free Report) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $205.00 to $200.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 14.02% from the company’s previous close.
Several other equities analysts also recently weighed in on LYV. Susquehanna lowered their price target on shares of Live Nation Entertainment from $187.00 to $183.00 and set a “neutral” rating on the stock in a report on Tuesday, October 20th. BTIG Research restated a “buy” rating and set a $215.00 price objective on shares of Live Nation Entertainment in a research report on Monday, October 19th. Morgan Stanley upped their target price on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $220.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, October 13th. Twenty analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.67.
Read Our Latest Stock Analysis on LYV
Live Nation Entertainment Price Performance
NYSE LYV opened at $175.40 on Friday. The business’s fifty day moving average is $172.84 and its 200 day moving average is $167.41. Live Nation Entertainment has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The company has a debt-to-equity ratio of 6.64, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $41.33 billion, a PE ratio of -1,031.78 and a beta of 1.15.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. The firm had revenue of $10.11 billion for the quarter, compared to the consensus estimate of $9.60 billion. Live Nation Entertainment had a return on equity of 55.62% and a net margin of 0.38%. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 earnings per share. Sell-side analysts predict that Live Nation Entertainment will post 1.06 earnings per share for the current year.
Insider Buying and Selling
In related news, CAO Brian Capo sold 2,900 shares of the 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 sale, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at $1,592,520. This represents a 25.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.89% of the company’s stock.
Institutional Investors Weigh In On Live Nation Entertainment
Several hedge funds have recently made changes to their positions in LYV. Burkett Financial Services LLC purchased a new position in Live Nation Entertainment during the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. bought a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $27,000. Kilter Group LLC bought a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $27,000. Transamerica Financial Advisors LLC purchased a new position in Live Nation Entertainment during the second quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Live Nation Entertainment during the second quarter valued at approximately $32,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events.
The company’s businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.
Live Nation was formed in 2010 through the merger of concert promoter Live Nation and ticketing company Ticketmaster.
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