Live Nation Entertainment (NYSE:LYV) Price Target Raised to $181.00

Live Nation Entertainment (NYSE:LYVFree Report) had its price objective boosted by Susquehanna from $180.00 to $181.00 in a research note issued to investors on Wednesday,MarketScreener reports.

Several other equities research analysts also recently commented on LYV. Rothschild & Co Redburn upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $166.00 to $193.00 in a research report on Friday, February 27th. Roth Mkm restated a “buy” rating and issued a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Wells Fargo & Company dropped their price target on shares of Live Nation Entertainment from $204.00 to $203.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Bank of America boosted their price target on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Sanford C. Bernstein boosted their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.75.

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Live Nation Entertainment Stock Down 1.7%

NYSE:LYV opened at $162.91 on Wednesday. The firm’s 50 day simple moving average is $157.51 and its 200 day simple moving average is $148.70. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 1.00. Live Nation Entertainment has a one year low of $125.34 and a one year high of $175.25. The company has a market cap of $38.37 billion, a PE ratio of -92.04 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYVGet Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the business earned ($0.32) earnings per share. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts anticipate that Live Nation Entertainment will post 0.38 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 157,798 shares of company stock worth $26,088,615. Company insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Live Nation Entertainment by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock valued at $3,378,970,000 after acquiring an additional 372,715 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Live Nation Entertainment by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after acquiring an additional 367,624 shares in the last quarter. Independent Franchise Partners LLP increased its stake in shares of Live Nation Entertainment by 3.5% in the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock valued at $817,055,000 after acquiring an additional 193,104 shares in the last quarter. Capital World Investors increased its stake in shares of Live Nation Entertainment by 4.8% in the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock valued at $840,829,000 after acquiring an additional 237,342 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after acquiring an additional 20,165 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

More Live Nation Entertainment News

Here are the key news stories impacting Live Nation Entertainment this week:

Live Nation Entertainment Company Profile

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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.

Further Reading

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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