Live Nation Entertainment, Inc. (NYSE:LYV) Stock Has Consensus Target Price of $197.19 According to Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been given an average recommendation of “Moderate Buy” by the twenty-four ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and twenty have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $197.43.

LYV has been the topic of a number of recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $215.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. Weiss Ratings lowered Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $205.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Susquehanna upped their price target on Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, Benchmark upped their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st.

Live Nation Entertainment Price Performance

Shares of LYV opened at $172.50 on Tuesday. The firm has a market capitalization of $40.65 billion, a price-to-earnings ratio of -152.65 and a beta of 1.17. The firm’s fifty day simple moving average is $175.25 and its 200-day simple moving average is $171.37. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $189.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Equities analysts forecast that Live Nation Entertainment will post 1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. The trade was a 25.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Burkett Financial Services LLC purchased a new position in shares of Live Nation Entertainment during the second quarter worth about $26,000. Kilter Group LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter worth about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Live Nation Entertainment during the second quarter worth about $27,000. Transamerica Financial Advisors LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter worth about $27,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at about $32,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes concerts and other live events, operates entertainment venues, and provides ticketing services. Its activities span the live event ecosystem, from artist and event promotion to ticket sales, venue management, sponsorship, and advertising.

The company’s business includes Live Nation Concerts, which produces and promotes tours, festivals, and other events; Ticketmaster, a ticketing platform serving venues, event organizers, and fans; and a portfolio of owned, operated, or managed venues.