Live Nation Entertainment, Inc. (NYSE:LYV) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been assigned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $173.50.

Several analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Live Nation Entertainment in a report on Monday. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They set a “buy” rating and a $195.00 price target on the stock. Citigroup dropped their price objective on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Finally, Evercore ISI dropped their price target on Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th.

Institutional Trading of Live Nation Entertainment

Institutional investors have recently bought and sold shares of the stock. Clearstead Trust LLC raised its stake in shares of Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares during the period. Ameriflex Group Inc. raised its position in Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares during the period. Atwood & Palmer Inc. bought a new stake in Live Nation Entertainment in the third quarter worth about $33,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $34,000. Finally, Measured Risk Portfolios Inc. bought a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $37,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

LYV stock traded up $0.40 during mid-day trading on Friday, hitting $131.45. The company had a trading volume of 936,008 shares, compared to its average volume of 2,584,277. The company has a 50-day moving average price of $147.89 and a 200 day moving average price of $150.92. Live Nation Entertainment has a 12-month low of $112.88 and a 12-month high of $175.25. The company has a market capitalization of $30.86 billion, a price-to-earnings ratio of 56.91, a P/E/G ratio of 12.85 and a beta of 1.37. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same period last year, the firm posted $1.66 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current year.

About Live Nation Entertainment

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.