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

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have received a consensus rating of “Moderate Buy” from the twenty-four research firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $197.1905.

LYV has been the topic of several research analyst reports. Guggenheim raised their price objective on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Citigroup increased their price target on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the company a “buy” rating in a report on Monday, August 3rd. The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Benchmark upped their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Susquehanna lifted their target price on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st.

Live Nation Entertainment Price Performance

NYSE LYV opened at $180.84 on Monday. The stock has a 50-day simple moving average of $181.24 and a 200 day simple moving average of $167.76. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $189.24. The stock has a market capitalization of $42.61 billion, a PE ratio of -160.04 and a beta of 1.12. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85.

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

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC raised its stake in shares of Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after buying an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after acquiring an additional 109 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after acquiring an additional 1,550 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after acquiring an additional 3,604 shares during the period. Finally, NewEdge Advisors LLC raised its position in Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after purchasing an additional 1,711 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

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.