Live Nation Entertainment (NYSE:LYV) Stock Rating Reaffirmed by Benchmark

Benchmark reissued their buy rating on shares of Live Nation Entertainment (NYSE:LYV) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $132.00 target price on the stock.

LYV has been the topic of several other research reports. JPMorgan Chase & Co. lowered their price objective on Live Nation Entertainment from $126.00 to $116.00 and set an overweight rating on the stock in a research report on Wednesday, May 29th. Morgan Stanley reiterated an overweight rating and set a $120.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $120.00 to $121.00 and gave the company a buy rating in a research report on Monday, May 6th. Roth Mkm reiterated a buy rating and set a $120.00 target price on shares of Live Nation Entertainment in a research report on Friday, May 24th. Finally, Redburn Atlantic upgraded Live Nation Entertainment from a neutral rating to a buy rating and increased their target price for the company from $114.00 to $115.00 in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $118.17.

Live Nation Entertainment Trading Down 1.9 %

Live Nation Entertainment stock opened at $91.21 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment has a 12 month low of $76.48 and a 12 month high of $107.24. The stock’s 50 day simple moving average is $93.46 and its two-hundred day simple moving average is $94.98. The firm has a market cap of $20.95 billion, a PE ratio of 86.87, a P/E/G ratio of 2.18 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the company posted $1.02 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts anticipate that Live Nation Entertainment will post 1.21 earnings per share for the current year.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI increased its stake in shares of Live Nation Entertainment by 22.0% in the 2nd quarter. National Bank of Canada FI now owns 43,424 shares of the company’s stock worth $4,115,000 after acquiring an additional 7,819 shares during the last quarter. Hohimer Wealth Management LLC increased its stake in shares of Live Nation Entertainment by 1.2% in the 2nd quarter. Hohimer Wealth Management LLC now owns 11,427 shares of the company’s stock worth $1,071,000 after acquiring an additional 130 shares during the last quarter. Strategy Asset Managers LLC acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter worth $876,000. Simon Quick Advisors LLC increased its stake in shares of Live Nation Entertainment by 79.8% in the 2nd quarter. Simon Quick Advisors LLC now owns 11,525 shares of the company’s stock worth $1,080,000 after acquiring an additional 5,116 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Live Nation Entertainment by 8.0% during the 2nd quarter. Rhumbline Advisers now owns 292,409 shares of the company’s stock worth $27,410,000 after purchasing an additional 21,698 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

About Live Nation Entertainment

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.