Analysts Set Live Nation Entertainment, Inc. (NYSE:LYV) Price Target at $120.77

Live Nation Entertainment, Inc. (NYSE:LYV) has been given an average rating of “Moderate Buy” by the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $120.77.

A number of equities research analysts have recently issued reports on LYV shares. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Roth Mkm raised their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Macquarie raised their price objective on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Oppenheimer raised their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, September 6th.

Live Nation Entertainment Price Performance

LYV stock opened at $115.68 on Friday. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment has a 1 year low of $76.48 and a 1 year high of $116.57. The firm has a market cap of $26.58 billion, a P/E ratio of 110.17, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35. The stock has a 50-day simple moving average of $103.14 and a 200-day simple moving average of $97.22.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the business posted $1.02 EPS. Live Nation Entertainment’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts predict that Live Nation Entertainment will post 1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 in the last quarter. Insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Live Nation Entertainment by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after acquiring an additional 110,097 shares during the period. Select Equity Group L.P. increased its stake in 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 buying an additional 1,415,173 shares during the period. Canada Pension Plan Investment Board increased its stake in Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after buying an additional 155,920 shares during the period. William Blair Investment Management LLC increased its stake in Live Nation Entertainment by 12.0% during the 1st quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock valued at $384,346,000 after buying an additional 388,980 shares during the period. Finally, D1 Capital Partners L.P. increased its stake in Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after buying an additional 1,093,000 shares during the period. Institutional investors and hedge funds 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.