Live Nation Entertainment, Inc. (NYSE:LYV) has received an average recommendation of “Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $42.00.

LYV has been the topic of several recent research reports. Macquarie reaffirmed a “buy” rating and issued a $48.00 price target on shares of Live Nation Entertainment in a report on Sunday, November 5th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. Zacks Investment Research raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, October 24th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Live Nation Entertainment in a report on Tuesday, September 12th.

Shares of Live Nation Entertainment (NYSE:LYV) opened at $42.69 on Thursday. Live Nation Entertainment has a fifty-two week low of $26.41 and a fifty-two week high of $46.99. The stock has a market cap of $9,014.41, a PE ratio of 2,179.50 and a beta of 1.05. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.11 and a quick ratio of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period last year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. equities research analysts expect that Live Nation Entertainment will post 0.2 EPS for the current fiscal year.

In related news, COO Joe Berchtold sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $45.43, for a total transaction of $908,600.00. Following the transaction, the chief operating officer now owns 117,918 shares of the company’s stock, valued at $5,357,014.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Rapino sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $45.46, for a total transaction of $3,182,200.00. Following the transaction, the chief executive officer now directly owns 395,277 shares in the company, valued at approximately $17,969,292.42. The disclosure for this sale can be found here. Insiders have sold 1,106,511 shares of company stock worth $49,467,752 in the last three months. Insiders own 4.77% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Live Nation Entertainment by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 198,179 shares of the company’s stock valued at $6,906,000 after buying an additional 5,319 shares during the period. Chicago Equity Partners LLC purchased a new position in Live Nation Entertainment during the second quarter worth approximately $3,674,000. BB&T Corp raised its stake in Live Nation Entertainment by 2.8% during the third quarter. BB&T Corp now owns 177,974 shares of the company’s stock worth $7,751,000 after purchasing an additional 4,895 shares during the period. Fisher Asset Management LLC raised its stake in Live Nation Entertainment by 8.2% during the third quarter. Fisher Asset Management LLC now owns 453,765 shares of the company’s stock worth $19,761,000 after purchasing an additional 34,434 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Live Nation Entertainment by 82.4% during the second quarter. BNP Paribas Arbitrage SA now owns 53,630 shares of the company’s stock worth $1,869,000 after purchasing an additional 24,226 shares during the period. 68.09% of the stock is currently owned by institutional investors and hedge funds.

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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. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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