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

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have received a consensus rating of “Buy” from the seventeen analysts that are presently covering the company, Marketbeat.com reports. Seventeen equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $165.24.

Several analysts have weighed in on LYV shares. Sanford C. Bernstein started coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They set an “outperform” rating and a $185.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $178.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Rosenblatt Securities cut their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Roth Mkm cut their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, Susquehanna set a $165.00 price objective on Live Nation Entertainment and gave the company a “positive” rating in a research report on Tuesday, June 10th.

Insider Activity at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the sale, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Live Nation Entertainment during the 1st quarter valued at $1,153,000. Praxis Investment Management Inc. lifted its stake in Live Nation Entertainment by 45.2% during the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company’s stock valued at $726,000 after acquiring an additional 1,730 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Live Nation Entertainment during the first quarter worth $3,081,000. Stratos Wealth Partners LTD. purchased a new position in shares of Live Nation Entertainment during the 1st quarter worth $272,000. Finally, Personal CFO Solutions LLC acquired a new stake in shares of Live Nation Entertainment in the 1st quarter valued at $277,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

LYV stock opened at $150.60 on Friday. Live Nation Entertainment has a 1-year low of $87.33 and a 1-year high of $157.75. The firm has a market cap of $34.90 billion, a PE ratio of 51.40, a price-to-earnings-growth ratio of 5.83 and a beta of 1.45. The stock has a 50-day moving average price of $145.12 and a 200-day moving average price of $138.09. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The company’s revenue was down 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. As a group, equities research analysts expect that Live Nation Entertainment will post 2.38 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.