Live Nation Entertainment (NYSE:LYV) PT Raised to $121.00 at Deutsche Bank Aktiengesellschaft

Live Nation Entertainment (NYSE:LYV) had its target price upped by equities researchers at Deutsche Bank Aktiengesellschaft from $120.00 to $121.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 25.58% from the stock’s previous close.

Several other brokerages have also recently commented on LYV. Morgan Stanley boosted their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. TD Cowen restated a “buy” rating and issued a $108.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Oppenheimer lifted their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Roth Mkm restated a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 23rd. Finally, Rosenblatt Securities boosted their target price on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

Live Nation Entertainment Stock Performance

LYV opened at $96.35 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. The business’s 50 day moving average is $98.67 and its 200-day moving average is $91.89. The stock has a market cap of $22.30 billion, a PE ratio of 91.32, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34. Live Nation Entertainment has a twelve month low of $76.48 and a twelve month high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. Live Nation Entertainment’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period last year, the business posted ($0.25) earnings per share. On average, analysts predict that Live Nation Entertainment will post 1.63 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the sale, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its position in shares of Live Nation Entertainment by 6.3% in the third quarter. Commonwealth Equity Services LLC now owns 10,855 shares of the company’s stock valued at $901,000 after purchasing an additional 647 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Live Nation Entertainment by 2.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 19,230 shares of the company’s stock worth $1,597,000 after acquiring an additional 476 shares during the last quarter. Forsta AP Fonden boosted its holdings in Live Nation Entertainment by 46.5% during the third quarter. Forsta AP Fonden now owns 65,500 shares of the company’s stock valued at $5,439,000 after acquiring an additional 20,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Live Nation Entertainment by 24.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,150 shares of the company’s stock valued at $3,251,000 after purchasing an additional 7,750 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of Live Nation Entertainment by 8.0% in the third quarter. IFM Investors Pty Ltd now owns 32,237 shares of the company’s stock worth $2,677,000 after purchasing an additional 2,382 shares during the period. 74.52% of the stock is 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.