Live Nation Entertainment (NYSE:LYV) Price Target Raised to $122.00 at Rosenblatt Securities

Live Nation Entertainment (NYSE:LYV) had its price target upped by investment analysts at Rosenblatt Securities from $119.00 to $122.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 28.88% from the company’s previous close.

LYV has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Roth Capital upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Morgan Stanley upped their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. TD Cowen restated a “buy” rating and issued a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Finally, Roth Mkm reissued a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $116.91.

Live Nation Entertainment Stock Up 7.2 %

Live Nation Entertainment stock opened at $94.66 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. The stock’s fifty day simple moving average is $98.60 and its 200-day simple moving average is $91.67. The firm has a market capitalization of $21.85 billion, a P/E ratio of 90.15, a P/E/G ratio of 1.79 and a beta of 1.34. Live Nation Entertainment has a twelve month low of $66.38 and a twelve month high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a return on equity of 85.50% and a net margin of 2.22%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.25) EPS. As a group, equities analysts expect that Live Nation Entertainment will post 1.63 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the sale, the director now directly owns 59,374 shares in the company, valued at approximately $5,967,087. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board raised its position in shares of Live Nation Entertainment by 5.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock worth $730,863,000 after purchasing an additional 429,650 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Live Nation Entertainment by 0.5% during the 3rd quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock worth $590,301,000 after purchasing an additional 33,215 shares during the last quarter. Findlay Park Partners LLP raised its position in shares of Live Nation Entertainment by 55.1% during the 3rd quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock worth $254,060,000 after purchasing an additional 1,087,264 shares during the last quarter. Cantillon Capital Management LLC raised its position in shares of Live Nation Entertainment by 146.6% during the 4th quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock worth $257,101,000 after purchasing an additional 1,632,749 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Live Nation Entertainment by 5.7% during the 3rd quarter. William Blair Investment Management LLC now owns 2,671,703 shares of the company’s stock worth $221,858,000 after purchasing an additional 144,326 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.