Wells Fargo & Company Initiates Coverage on Live Nation Entertainment (NYSE:LYV)

Investment analysts at Wells Fargo & Company began coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research report issued on Wednesday. The firm set an “overweight” rating and a $204.00 price target on the stock. Wells Fargo & Company‘s target price points to a potential upside of 29.03% from the stock’s current price.

Other equities analysts also recently issued reports about the company. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Morgan Stanley reiterated an “overweight” rating and issued a $185.00 price target on shares of Live Nation Entertainment in a report on Friday. Moffett Nathanson dropped their price objective on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Finally, Evercore reaffirmed an “outperform” rating and issued a $198.00 target price on shares of Live Nation Entertainment in a report on Friday. Twenty analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.95.

Live Nation Entertainment Stock Down 0.1%

LYV stock opened at $158.10 on Wednesday. The business’s 50-day moving average price is $146.85 and its 200-day moving average price is $150.37. The stock has a market cap of $37.12 billion, a P/E ratio of -658.74, a PEG ratio of 18.85 and a beta of 1.18. Live Nation Entertainment has a twelve month low of $112.88 and a twelve month high of $175.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same period in the prior year, the firm earned $0.58 EPS. Live Nation Entertainment’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently added to or reduced their stakes in LYV. Empowered Funds LLC raised its position in Live Nation Entertainment by 3.3% during the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after purchasing an additional 547 shares during the period. Wealthfront Advisers LLC lifted its position in Live Nation Entertainment by 161.9% in the second quarter. Wealthfront Advisers LLC now owns 16,612 shares of the company’s stock worth $2,513,000 after buying an additional 10,269 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Live Nation Entertainment by 4.1% during the second quarter. Nisa Investment Advisors LLC now owns 17,439 shares of the company’s stock worth $2,638,000 after buying an additional 688 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Live Nation Entertainment in the second quarter valued at $941,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Live Nation Entertainment by 4.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 24,566 shares of the company’s stock worth $3,716,000 after purchasing an additional 968 shares during the period. 74.52% of the stock is owned by institutional investors.

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.