Live Nation Entertainment (NYSE:LYV) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Live Nation Entertainment (NYSE:LYV) from a sell rating to a hold rating in a research note published on Saturday morning.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Moffett Nathanson dropped their target price on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Bank of America upped their price target on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Jefferies Financial Group cut Live Nation Entertainment from a “buy” rating to a “hold” rating and cut their price objective for the company from $161.00 to $155.00 in a research report on Tuesday, January 13th. Finally, Guggenheim reduced their target price on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.05.

Live Nation Entertainment Stock Down 2.0%

LYV stock opened at $156.58 on Friday. The firm has a 50 day moving average of $149.52 and a 200 day moving average of $150.39. 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 stock has a market capitalization of $36.76 billion, a PE ratio of -652.42 and a beta of 1.11. Live Nation Entertainment has a 52 week low of $112.88 and a 52 week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data 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). The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. Sell-side analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently bought and sold shares of the company. Clearstead Trust LLC increased its position in shares of Live Nation Entertainment by 469.0% during the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after purchasing an additional 136 shares in the last quarter. Leonteq Securities AG purchased a new position in Live Nation Entertainment in the 4th quarter valued at $25,000. Nvest Wealth Strategies Inc. purchased a new position in Live Nation Entertainment in the 4th quarter valued at $26,000. Ameriflex Group Inc. boosted its stake in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth $30,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

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.