Live Nation Entertainment, Inc. (NYSE:LYV) Receives Consensus Rating of “Moderate Buy” from Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been assigned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $197.19.

Several research analysts have recently weighed in on LYV shares. Citizens Jmp boosted their price objective 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. Susquehanna lifted their target price on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Guggenheim boosted their target price on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, July 31st. BTIG Research restated a “buy” rating and issued a $215.00 price target on shares of Live Nation Entertainment in a research note on Friday, July 31st. Finally, Benchmark lifted their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the sale, the chief accounting officer directly owned 8,655 shares in the company, valued at $1,592,520. The trade was a 25.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors have recently made changes to their positions in the business. Bank of America Corp DE bought a new stake in Live Nation Entertainment during the second quarter valued at about $1,221,398,000. Canada Pension Plan Investment Board bought a new position in shares of Live Nation Entertainment in the second quarter worth about $859,018,000. Norges Bank purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $285,924,000. Sachem Head Capital Management LP purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $173,380,000. Finally, Jericho Capital Asset Management L.P. grew its stake in shares of Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after acquiring an additional 1,099,350 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 1.2%

Shares of NYSE:LYV opened at $171.09 on Friday. Live Nation Entertainment has a 1 year low of $125.34 and a 1 year high of $189.24. The stock’s fifty day moving average price is $178.22 and its 200-day moving average price is $169.84. The company has a market cap of $40.31 billion, a P/E ratio of -151.41 and a beta of 1.11. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates 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%.Live Nation Entertainment’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. Sell-side analysts expect that Live Nation Entertainment will post 1.12 earnings per share for the current year.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that produces, promotes and operates concerts, music festivals and other live events. Through its concert promotion business, the company works with artists and venues to organize events across a broad range of music genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related technology for concerts, sports and other events. In addition, Live Nation manages and operates entertainment venues and provides sponsorship and advertising services that connect brands with live audiences.

Live Nation was formed in 2005 through the combination of Clear Channel Entertainment’s live entertainment business and Live Nation.