Live Nation Entertainment, Inc. (LYV) Given “Buy” Rating at Jefferies Group LLC
LYV has been the subject of a number of other research reports. Stephens reissued an overweight rating and set a $44.00 price objective (up previously from $36.00) on shares of Live Nation Entertainment in a research report on Thursday, August 10th. BidaskClub upgraded Live Nation Entertainment from a buy rating to a strong-buy rating in a report on Sunday, July 16th. Citigroup Inc. restated a buy rating and set a $39.00 target price (up from $32.00) on shares of Live Nation Entertainment in a report on Friday, May 19th. J P Morgan Chase & Co restated a buy rating on shares of Live Nation Entertainment in a report on Friday, August 11th. Finally, Northcoast Research lowered Live Nation Entertainment from a buy rating to a neutral rating in a report on Monday, June 19th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $39.71.
Shares of Live Nation Entertainment (NYSE LYV) opened at 42.09 on Tuesday. The stock has a 50 day moving average price of $39.26 and a 200-day moving average price of $34.45. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 6012.86 and a beta of 1.01. Live Nation Entertainment has a 1-year low of $25.93 and a 1-year high of $42.20.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Live Nation Entertainment had a return on equity of 1.60% and a net margin of 0.25%. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 earnings per share. On average, equities research analysts expect that Live Nation Entertainment will post $0.22 earnings per share for the current fiscal year.
In related news, insider Brian Capo sold 7,500 shares of Live Nation Entertainment stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $40.50, for a total transaction of $303,750.00. Following the sale, the insider now directly owns 13,354 shares of the company’s stock, valued at $540,837. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.77% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC grew its position in Live Nation Entertainment by 58.5% during the second quarter. IHT Wealth Management LLC now owns 2,574 shares of the company’s stock worth $280,000 after buying an additional 950 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Live Nation Entertainment by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock worth $185,000 after buying an additional 445 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in Live Nation Entertainment during the second quarter worth about $210,000. PICTET BANK & TRUST Ltd acquired a new stake in Live Nation Entertainment during the first quarter worth about $225,000. Finally, Montag A & Associates Inc. acquired a new stake in Live Nation Entertainment during the second quarter worth about $261,000. 65.71% of the stock is currently owned by institutional investors and hedge funds.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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