Live Nation Entertainment (NYSE:LYV) Now Covered by Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Live Nation Entertainment (NYSE:LYV) in a report released on Wednesday, MarketBeat.com reports. The brokerage issued an overweight rating and a $204.00 price target on the stock.

A number of other analysts also recently weighed in on LYV. Deutsche Bank Aktiengesellschaft decreased their price target on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. The Goldman Sachs Group restated a “buy” rating and set a $175.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Roth Mkm reaffirmed a “buy” rating and set a $190.00 price target on shares of Live Nation Entertainment in a research note on Friday, February 20th. Zacks Research cut shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, January 16th. Finally, Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. Twenty investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $179.95.

Live Nation Entertainment Stock Down 1.8%

Shares of NYSE:LYV opened at $155.17 on Wednesday. Live Nation Entertainment has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The firm’s 50-day simple moving average is $147.22 and its 200-day simple moving average is $150.40. The company has a market cap of $36.43 billion, a price-to-earnings ratio of -646.54, a PEG ratio of 18.81 and a beta of 1.18.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same period in the prior year, the company earned $0.58 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Institutional Trading of Live Nation Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its position in shares of Live Nation Entertainment by 3.3% during the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Live Nation Entertainment by 161.9% in the second quarter. Wealthfront Advisers LLC now owns 16,612 shares of the company’s stock valued at $2,513,000 after acquiring an additional 10,269 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Live Nation Entertainment by 4.1% in the second quarter. Nisa Investment Advisors LLC now owns 17,439 shares of the company’s stock valued at $2,638,000 after acquiring an additional 688 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Live Nation Entertainment during the 2nd quarter worth about $941,000. Finally, Teacher Retirement System of Texas raised its stake in Live Nation Entertainment by 4.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 24,566 shares of the company’s stock valued at $3,716,000 after purchasing an additional 968 shares during the last quarter. 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.