Live Nation Entertainment (NYSE:LYV) Price Target Increased to $122.00 by Analysts at Rosenblatt Securities

Live Nation Entertainment (NYSE:LYV) had its price target hoisted by Rosenblatt Securities from $119.00 to $122.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Oppenheimer lifted their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an outperform rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. Roth Mkm restated a buy rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Live Nation Entertainment in a research report on Tuesday. They set a buy rating and a $120.00 price objective on the stock. Finally, TD Cowen reaffirmed a buy rating and set a $108.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $116.91.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV traded up $6.39 during midday trading on Friday, hitting $94.66. 5,775,969 shares of the company’s stock traded hands, compared to its average volume of 2,400,003. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 90.14, a price-to-earnings-growth ratio of 1.79 and a beta of 1.34. The firm has a fifty day moving average of $98.60 and a 200 day moving average of $91.67. Live Nation Entertainment has a 1 year low of $66.38 and a 1 year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a return on equity of 85.50% and a net margin of 2.22%. The firm’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) earnings per share. On average, analysts forecast that Live Nation Entertainment will post 1.63 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares in the company, valued at approximately $5,967,087. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Large investors have recently modified their holdings of the company. DAVENPORT & Co LLC raised its position in Live Nation Entertainment by 8.8% during the 1st quarter. DAVENPORT & Co LLC now owns 1,241,525 shares of the company’s stock valued at $131,762,000 after purchasing an additional 100,253 shares in the last quarter. Coronation Fund Managers Ltd. raised its holdings in shares of Live Nation Entertainment by 6.4% in the first quarter. Coronation Fund Managers Ltd. now owns 34,519 shares of the company’s stock valued at $3,651,000 after acquiring an additional 2,089 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Live Nation Entertainment in the first quarter worth about $1,454,000. FORA Capital LLC bought a new position in Live Nation Entertainment during the 1st quarter worth about $256,000. Finally, Nordea Investment Management AB raised its holdings in shares of Live Nation Entertainment by 15.8% in the 1st quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after purchasing an additional 187,839 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.