Live Nation Entertainment, Inc. (NYSE:LYV) Receives $145.40 Average Target Price from Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has received an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $145.40.

LYV has been the subject of several recent research reports. Oppenheimer boosted their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Evercore ISI increased their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Macquarie upped their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, Roth Mkm lifted their price objective on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Live Nation Entertainment Stock Up 0.2 %

LYV stock opened at $129.49 on Wednesday. Live Nation Entertainment has a fifty-two week low of $86.67 and a fifty-two week high of $141.18. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $30.09 billion, a price-to-earnings ratio of 137.76, a PEG ratio of 3.68 and a beta of 1.37. The business’s fifty day moving average price is $131.20 and its two-hundred day moving average price is $110.58.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. Live Nation Entertainment’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $1.78 earnings per share. On average, equities analysts anticipate that Live Nation Entertainment will post 1.04 earnings per share for the current year.

Institutional Trading of Live Nation Entertainment

Institutional investors have recently bought and sold shares of the company. Frank Rimerman Advisors LLC acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at about $748,000. Select Equity Group L.P. lifted its position in shares of Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after acquiring an additional 1,415,173 shares during the period. Davidson Kempner Capital Management LP bought a new position in Live Nation Entertainment during the second quarter worth $3,985,000. Czech National Bank increased its stake in Live Nation Entertainment by 17.5% in the third quarter. Czech National Bank now owns 31,904 shares of the company’s stock valued at $3,493,000 after purchasing an additional 4,761 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its holdings in shares of Live Nation Entertainment by 48.3% during the second quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock valued at $4,798,000 after purchasing an additional 16,668 shares during the period. Institutional investors own 74.52% of the company’s stock.

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.