Live Nation Entertainment, Inc. (NYSE:LYV) Receives $197.19 Average PT from Analysts

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $197.1905.

A number of research analysts have issued reports on LYV shares. Oppenheimer set a $100.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, July 28th. Rothschild & Co Redburn lifted their target price on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Wells Fargo & Company upped their price target on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. UBS Group upped their price objective on Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Susquehanna raised their target price on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a research report on Friday, July 31st.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $182.81 on Monday. Live Nation Entertainment has a 1 year low of $125.34 and a 1 year 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. The firm’s 50 day moving average is $180.85 and its 200-day moving average is $167.40. The firm has a market capitalization of $43.08 billion, a price-to-earnings ratio of -161.78 and a beta of 1.12.

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

Insider Activity

In other news, CAO Brian Capo sold 2,900 shares of the firm’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 transaction, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds have recently added to or reduced their stakes in LYV. California State Teachers Retirement System grew its stake in Live Nation Entertainment by 19,122.8% during the second quarter. California State Teachers Retirement System now owns 44,334,776 shares of the company’s stock worth $8,118,141,000 after buying an additional 44,104,140 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $1,221,398,000. Canada Pension Plan Investment Board bought a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $859,018,000. Norges Bank acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $285,924,000. Finally, Sachem Head Capital Management LP acquired a new position in Live Nation Entertainment during the fourth quarter valued at approximately $173,380,000. 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.