Live Nation Entertainment (NYSE:LYV) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Live Nation Entertainment (NYSE:LYV) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on LYV. Citizens Jmp upped their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a research note on Friday, July 31st. Roth Capital set a $208.00 price objective on Live Nation Entertainment in a research report on Friday, July 31st. Sanford C. Bernstein raised their target price on Live Nation Entertainment from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Rothschild & Co Redburn lifted their price target on Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th. Twenty investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $197.19.

Live Nation Entertainment Trading Down 2.4%

NYSE:LYV opened at $180.09 on Monday. The company’s 50 day moving average is $179.49 and its 200-day moving average is $165.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. Live Nation Entertainment has a 12 month low of $125.34 and a 12 month high of $189.24. The firm has a market cap of $42.43 billion, a price-to-earnings ratio of -159.37 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. Live Nation Entertainment’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. Equities analysts anticipate that Live Nation Entertainment will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds have recently made changes to their positions in the stock. Leonteq Securities AG bought a new position in Live Nation Entertainment during the fourth quarter valued at about $25,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $26,000. Burkett Financial Services LLC acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $26,000. Kilter Group LLC acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $27,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $27,000. Institutional investors 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.