Live Nation Entertainment, Inc. (NYSE:LYV) Receives $124.73 Consensus Price Target from Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $137.43.

Several research firms recently commented on LYV. TD Cowen lifted their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America lifted their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday. Roth Mkm increased their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Benchmark increased their price target on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $129.21 on Tuesday. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $130.76. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $29.76 billion, a P/E ratio of 137.46, a P/E/G ratio of 3.15 and a beta of 1.33. The business’s 50 day moving average price is $112.06 and its 200-day moving average price is $100.35.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the previous year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities research analysts anticipate that Live Nation Entertainment will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This represents a 28.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at $55,255,395. This represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,500 shares of company stock valued at $17,097,016. 2.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment in the 3rd quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the period. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment during the 3rd quarter valued at $41,000. Cromwell Holdings LLC increased its stake in Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after purchasing an additional 88 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

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.