Live Nation Entertainment, Inc. (NYSE:LYV) Receives $188.50 Consensus Target Price from Analysts

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have received an average recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $190.15.

Several equities analysts recently issued reports on the company. Wolfe Research raised their price target on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. The Goldman Sachs Group increased their price objective on Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Morgan Stanley upped their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $182.65 on Friday. The company has a 50-day simple moving average of $170.04 and a two-hundred day simple moving average of $158.46. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment has a 12-month low of $125.34 and a 12-month high of $188.00. The firm has a market cap of $43.02 billion, a price-to-earnings ratio of -103.19 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data 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 company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the firm posted ($0.32) EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts forecast that Live Nation Entertainment will post 1.09 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This represents a 23.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Burkett Financial Services LLC bought a new position in Live Nation Entertainment in the 2nd quarter worth $26,000. Ameriflex Group Inc. boosted its stake in shares of Live Nation Entertainment by 102.4% during the 3rd 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. Leonteq Securities AG purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at about $25,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at about $26,000. Finally, Elyxium Wealth LLC bought a new position in Live Nation Entertainment in the fourth quarter worth about $30,000. Hedge funds and other 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.