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

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have earned an average recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $172.55.

Several research analysts have issued reports on the stock. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Guggenheim lowered their price target on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reduced their price objective on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Jefferies Financial Group downgraded Live Nation Entertainment from a “buy” rating to a “hold” rating and lowered their target price for the company from $161.00 to $155.00 in a research note on Tuesday, January 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Monday, December 29th.

Live Nation Entertainment Trading Up 0.7%

NYSE:LYV opened at $142.28 on Thursday. The company has a market capitalization of $33.40 billion, a PE ratio of 103.10, a P/E/G ratio of 9.33 and a beta of 1.18. Live Nation Entertainment has a 52-week low of $112.88 and a 52-week high of $175.25. The stock’s 50 day moving average price is $142.19 and its 200 day moving average price is $150.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.81). The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. Live Nation Entertainment’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 earnings per share. On average, research analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current year.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clearstead Trust LLC lifted its position in Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after purchasing an additional 136 shares during the period. Nvest Wealth Strategies Inc. acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. boosted its stake in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after buying an additional 84 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in Live Nation Entertainment during the third quarter worth $33,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in Live Nation Entertainment in the third quarter worth $34,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.