Live Nation Entertainment (NYSE:LYV) Trading 6.5% Higher – Time to Buy?

Live Nation Entertainment, Inc. (NYSE:LYV)’s share price traded up 6.5% during trading on Friday . The stock traded as high as $144.23 and last traded at $147.1670. 1,225,063 shares traded hands during trading, a decline of 53% from the average session volume of 2,590,421 shares. The stock had previously closed at $138.14.

Wall Street Analyst Weigh In

Several research firms have issued reports on LYV. Jefferies Financial Group lowered Live Nation Entertainment from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $161.00 to $155.00 in a research note on Tuesday, January 13th. The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the company a “sell” rating in a report on Friday, January 2nd. Citigroup decreased their price objective on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Monday, December 29th. Finally, Evercore ISI increased their price target on Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $173.30.

Live Nation Entertainment Trading Up 6.5%

The business has a 50-day moving average price of $139.50 and a two-hundred day moving average price of $150.16. The company has a market cap of $34.52 billion, a P/E ratio of 106.58, a P/E/G ratio of 9.19 and a beta of 1.20. 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 announced 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 for the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.66 earnings per share. On average, analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clearstead Trust LLC increased its stake in shares of Live Nation Entertainment by 469.0% in the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares during the last quarter. Ameriflex Group Inc. increased its stake in 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 purchasing an additional 84 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in Live Nation Entertainment in the third quarter worth $33,000. Heartwood Wealth Advisors LLC bought a new position in shares of Live Nation Entertainment during the third quarter worth $34,000. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $37,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

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.