Live Nation Entertainment Inc. (NYSE:LYV) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Live Nation Entertainment Inc. (NYSE:LYV) have been given an average recommendation of “Buy” by the nine brokerages that are covering the company. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $31.17.
Several research firms have issued reports on LYV. JPMorgan Chase & Co. assumed coverage on shares of Live Nation Entertainment in a research note on Thursday, August 18th. They set an “overweight” rating and a $34.00 price objective for the company. Jefferies Group restated a “buy” rating and issued a $31.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 29th. Albert Fried & Company restated a “buy” rating and issued a $34.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, July 26th. Finally, Zacks Investment Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Saturday, June 11th.
Live Nation Entertainment (NYSE:LYV) traded up 1.41% during trading on Tuesday, hitting $26.53. 643,087 shares of the company were exchanged. The company has a 50-day moving average of $26.51 and a 200-day moving average of $23.99. The company’s market capitalization is $5.36 billion. Live Nation Entertainment has a 12 month low of $18.77 and a 12 month high of $29.68.
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Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. Live Nation Entertainment had a net margin of 0.05% and a return on equity of 0.27%. The company earned $2.20 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm earned $0.06 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 23.4% on a year-over-year basis. Analysts forecast that Live Nation Entertainment will post ($0.11) EPS for the current year.
A number of hedge funds have recently bought and sold shares of LYV. Northwestern Mutual Investment Management Company LLC boosted its stake in Live Nation Entertainment by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 25,224 shares of the company’s stock valued at $593,000 after buying an additional 75 shares in the last quarter. Mason Street Advisors LLC bought a new stake in Live Nation Entertainment during the second quarter valued at about $1,566,000. Cowen Group Inc. bought a new stake in Live Nation Entertainment during the second quarter valued at about $331,000. Sterling Capital Management LLC boosted its stake in Live Nation Entertainment by 7.0% in the second quarter. Sterling Capital Management LLC now owns 2,030,180 shares of the company’s stock valued at $47,709,000 after buying an additional 133,381 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Live Nation Entertainment by 69.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 941,265 shares of the company’s stock valued at $22,120,000 after buying an additional 386,462 shares in the last quarter. 64.04% of the stock is currently owned by hedge funds and other institutional investors.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising, and artist management. Its segments include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate.
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