Live Nation Entertainment, Inc. (NYSE:LYV) Receives Consensus Rating of “Moderate Buy” from Analysts

Live Nation Entertainment, Inc. (NYSE:LYV) has received an average rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $187.75.

Several research analysts have weighed in on LYV shares. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Citizens Jmp assumed coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 price target on the stock. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, February 23rd. Bank of America raised their price target on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Rothschild & Co Redburn raised their price target on shares of Live Nation Entertainment from $193.00 to $195.00 in a research report on Wednesday, May 6th.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $162.13 on Wednesday. The firm has a market cap of $38.19 billion, a P/E ratio of -91.60 and a beta of 1.12. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment has a 1-year low of $125.34 and a 1-year high of $175.25. The firm has a fifty day moving average of $161.39 and a two-hundred day moving average of $152.02.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.Live Nation Entertainment’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.32) earnings per share. As a group, research analysts anticipate that Live Nation Entertainment will post 1.13 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several hedge funds have recently bought and sold shares of LYV. Empowered Funds LLC lifted its position in Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after purchasing an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after purchasing an additional 109 shares during the last quarter. Cerity Partners LLC lifted its position in Live Nation Entertainment by 6.0% in the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after purchasing an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Live Nation Entertainment by 15.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after purchasing an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Live Nation Entertainment by 344.3% in the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after purchasing an additional 1,711 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.