Live Nation Entertainment, Inc. (NYSE:LYV) Given Average Rating of “Moderate Buy” by Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been assigned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $145.40.

A number of research analysts have recently weighed in on LYV shares. Deutsche Bank Aktiengesellschaft increased their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Benchmark raised their target price on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Evercore ISI boosted their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Oppenheimer increased their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Frank Rimerman Advisors LLC bought a new position in shares of Live Nation Entertainment during the 2nd quarter worth approximately $748,000. Select Equity Group L.P. increased its stake in Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares during the last quarter. Davidson Kempner Capital Management LP bought a new stake in Live Nation Entertainment during the 2nd quarter worth about $3,985,000. Czech National Bank boosted its stake in shares of Live Nation Entertainment by 17.5% during the 3rd quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after buying an additional 4,761 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings in shares of Live Nation Entertainment by 48.3% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock valued at $4,798,000 after acquiring an additional 16,668 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $129.50 on Wednesday. The business’s 50-day simple moving average is $130.11 and its 200 day simple moving average is $109.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $30.09 billion, a price-to-earnings ratio of 137.77, a P/E/G ratio of 3.68 and a beta of 1.37. Live Nation Entertainment has a 12-month low of $86.67 and a 12-month high of $141.18.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter last year, the firm earned $1.78 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts anticipate that Live Nation Entertainment will post 1.04 earnings per share for the current year.

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.