Live Nation Entertainment (NYSE:LYV) Raised to Hold at Zacks Research

Live Nation Entertainment (NYSE:LYV) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Benchmark lifted their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citizens Jmp lifted their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a report on Wednesday, July 22nd. Wells Fargo & Company raised their price target on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $197.19.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $180.09 on Monday. 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 has a 1-year low of $125.34 and a 1-year high of $189.24. The firm has a market cap of $42.43 billion, a P/E ratio of -159.37 and a beta of 1.12. The firm has a 50-day moving average of $179.49 and a 200-day moving average of $165.68.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. Sell-side analysts expect that Live Nation Entertainment will post 1.05 EPS for the current year.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Burkett Financial Services LLC purchased a new position in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in Live Nation Entertainment in the second quarter valued at $27,000. Kilter Group LLC acquired a new stake in Live Nation Entertainment during the second quarter worth about $27,000. Meeder Asset Management Inc. acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at $27,000. Finally, Leonteq Securities AG purchased a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $25,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

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.