Live Nation Entertainment, Inc. (NYSE:LYV) Receives $115.58 Average Price Target from Analysts

Live Nation Entertainment, Inc. (NYSE:LYV) has received an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $115.58.

A number of analysts recently issued reports on the company. Rosenblatt Securities raised their price objective on Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Roth Mkm reaffirmed a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research report on Friday, May 24th. JPMorgan Chase & Co. dropped their target price on Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. TD Cowen reaffirmed a “buy” rating and issued a $108.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Finally, Redburn Atlantic raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the company from $114.00 to $115.00 in a research report on Thursday, May 9th.

Live Nation Entertainment Stock Up 2.2 %

Shares of NYSE:LYV opened at $97.95 on Wednesday. The business has a 50-day moving average price of $94.13 and a 200 day moving average price of $94.59. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. The company has a market capitalization of $22.50 billion, a price-to-earnings ratio of 93.29, a PEG ratio of 2.07 and a beta of 1.34. Live Nation Entertainment has a 12-month low of $76.48 and a 12-month high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.25) earnings per share. Sell-side analysts expect that Live Nation Entertainment will post 1.29 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Institutional investors have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV lifted its stake in Live Nation Entertainment by 148.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in Live Nation Entertainment during the first quarter worth approximately $32,000. Raleigh Capital Management Inc. purchased a new stake in Live Nation Entertainment during the third quarter worth approximately $33,000. Rise Advisors LLC lifted its stake in Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after purchasing an additional 119 shares during 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.