Jefferies Group LLC Increases Live Nation Entertainment, Inc. (LYV) Price Target to $46.00
Live Nation Entertainment, Inc. (NYSE:LYV) had its price target hoisted by equities researchers at Jefferies Group LLC from $42.00 to $46.00 in a report issued on Friday. The firm currently has a “buy” rating on the stock. Jefferies Group LLC’s price objective suggests a potential upside of 4.97% from the company’s current price. Jefferies Group also issued estimates for Live Nation Entertainment’s FY2017 earnings at $0.15 EPS, Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.64 EPS, Q2 2019 earnings at $0.44 EPS and Q3 2019 earnings at $0.70 EPS.
A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 18th. Stephens reissued an “overweight” rating and set a $44.00 target price (up from $36.00) on shares of Live Nation Entertainment in a research note on Thursday, August 10th. William Blair began coverage on shares of Live Nation Entertainment in a research note on Friday, July 21st. They set an “outperform” rating for the company. Finally, BidaskClub raised shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.86.
Shares of Live Nation Entertainment (NYSE LYV) traded up $2.90 during trading hours on Friday, hitting $43.82. 4,372,743 shares of the company were exchanged, compared to its average volume of 1,440,612. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.54. The firm has a market cap of $9,061.98, a P/E ratio of 2,191.00 and a beta of 1.07.
Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.47%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the prior year, the company earned $0.49 EPS. Live Nation Entertainment’s quarterly revenue was up 12.3% on a year-over-year basis. analysts anticipate that Live Nation Entertainment will post 0.2 earnings per share for the current year.
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In other news, Director Ariel Emanuel sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $41.56, for a total value of $415,600.00. Following the completion of the sale, the director now directly owns 85,737 shares of the company’s stock, valued at approximately $3,563,229.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian Capo sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $40.50, for a total transaction of $303,750.00. Following the completion of the sale, the insider now directly owns 13,354 shares of the company’s stock, valued at $540,837. The disclosure for this sale can be found here. Insiders own 4.77% of the company’s stock.
Several large investors have recently modified their holdings of LYV. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Live Nation Entertainment by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock worth $185,000 after acquiring an additional 445 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $210,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Live Nation Entertainment in the 1st quarter worth approximately $233,000. Montag A & Associates Inc. acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $261,000. Finally, Neuberger Berman Group LLC lifted its stake in shares of Live Nation Entertainment by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 7,830 shares of the company’s stock worth $273,000 after acquiring an additional 63 shares during the period. 65.87% of the stock is owned by institutional investors.
About Live Nation Entertainment
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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