Live Nation Entertainment, Inc. (NYSE:LYV) Receives $120.77 Average Target Price from Analysts

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $122.23.

Several equities research analysts recently commented on LYV shares. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Macquarie raised their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Bank of America started coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Benchmark reaffirmed a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday.

Live Nation Entertainment Price Performance

Shares of LYV opened at $116.45 on Friday. Live Nation Entertainment has a 1 year low of $76.48 and a 1 year high of $116.78. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $26.75 billion, a price-to-earnings ratio of 110.90, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35. The business has a 50-day moving average of $104.48 and a 200-day moving average of $97.56.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data 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 return on equity of 84.78% and a net margin of 2.20%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the business earned $1.02 earnings per share. Live Nation Entertainment’s revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Live Nation Entertainment will post 1.21 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now owns 59,789 shares in the company, valued at $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. 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 over the last 90 days. Insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Live Nation Entertainment by 0.6% during the first 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. lifted its holdings in Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Live Nation Entertainment by 1.8% during the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after acquiring an additional 155,920 shares during the period. William Blair Investment Management LLC lifted its holdings in Live Nation Entertainment by 12.0% during the first quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock worth $384,346,000 after acquiring an additional 388,980 shares during the period. Finally, D1 Capital Partners L.P. lifted its holdings in Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares during the period. 74.52% of the stock is currently owned by institutional investors.

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.