Live Nation Entertainment (NYSE:LYV) Price Target Raised to $195.00

Live Nation Entertainment (NYSE:LYVFree Report) had its price objective hoisted by Rothschild & Co Redburn from $193.00 to $195.00 in a report issued on Wednesday morning,MarketScreener reports.

LYV has been the topic of several other reports. Sanford C. Bernstein upped their target price on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Wolfe Research increased their price objective on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Finally, UBS Group boosted their target price on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.75.

Read Our Latest Stock Analysis on LYV

Live Nation Entertainment Trading Down 1.7%

NYSE LYV opened at $162.91 on Wednesday. Live Nation Entertainment has a 52 week low of $125.34 and a 52 week high of $175.25. The company has a 50 day moving average price of $157.51 and a 200 day moving average price of $148.70. The company has a quick ratio of 1.00, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The firm has a market cap of $38.37 billion, a PE ratio of -92.04 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYVGet Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.32) earnings per share. As a group, sell-side analysts forecast that Live Nation Entertainment will post 0.38 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the transaction, the director directly owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 157,798 shares of company stock worth $26,088,615. 2.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Live Nation Entertainment by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after acquiring an additional 372,715 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Live Nation Entertainment by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after purchasing an additional 367,624 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in Live Nation Entertainment by 3.5% in the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after purchasing an additional 193,104 shares during the period. Capital World Investors boosted its position in Live Nation Entertainment by 4.8% during the third quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after purchasing an additional 237,342 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after purchasing an additional 20,165 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Key Headlines Impacting Live Nation Entertainment

Here are the key news stories impacting Live Nation Entertainment this week:

Live Nation Entertainment Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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