Live Nation Entertainment (NYSE:LYV) Rating Increased to Buy at Rothschild & Co Redburn

Live Nation Entertainment (NYSE:LYV) was upgraded by equities researchers at Rothschild & Co Redburn from a “neutral” rating to a “buy” rating in a research note issued on Friday, Marketbeat.com reports. The brokerage presently has a $193.00 price objective on the stock. Rothschild & Co Redburn’s price target would indicate a potential upside of 22.28% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Susquehanna lifted their price target on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Evercore reaffirmed an “outperform” rating and set a $198.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Oppenheimer reissued an “outperform” rating and set a $190.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $175.00 price target on shares of Live Nation Entertainment in a research note on Friday, February 20th. Finally, Weiss Ratings cut Live Nation Entertainment from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.19.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $157.83 on Friday. The firm has a market cap of $37.06 billion, a PE ratio of -657.63, a P/E/G ratio of 19.28 and a beta of 1.18. Live Nation Entertainment has a twelve month low of $112.88 and a twelve month high of $175.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The business has a 50-day moving average price of $147.59 and a 200 day moving average price of $150.45.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 earnings per share. Sell-side analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Axxcess Wealth Management LLC increased its stake in Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after acquiring an additional 75 shares during the last quarter. Vident Advisory LLC increased its position in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares during the last quarter. Prairie Wealth Advisors Inc. raised its holdings in Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after buying an additional 80 shares during the period. Private Trust Co. NA lifted its position in Live Nation Entertainment by 24.4% in the third quarter. Private Trust Co. NA now owns 418 shares of the company’s stock valued at $68,000 after buying an additional 82 shares during the last quarter. Finally, Sumitomo Life Insurance Co. boosted its stake in Live Nation Entertainment by 1.2% during the fourth quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock worth $972,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

About Live Nation Entertainment

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.