Berenberg Bank Initiates Coverage on Live Nation Entertainment (LYV)

Berenberg Bank started coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research report report published on Tuesday morning, Benzinga reports. The brokerage issued a buy rating and a $73.00 target price on the stock.

Other analysts have also issued research reports about the stock. ValuEngine lowered shares of Live Nation Entertainment from a strong-buy rating to a buy rating in a report on Monday, April 1st. Zacks Investment Research raised shares of Live Nation Entertainment from a hold rating to a buy rating and set a $60.00 target price for the company in a report on Tuesday, January 29th. Citigroup lowered shares of Live Nation Entertainment from a buy rating to a neutral rating and lifted their target price for the stock from $59.00 to $63.00 in a report on Friday, March 15th. They noted that the move was a valuation call. Finally, Stephens lifted their target price on shares of Live Nation Entertainment to $70.00 and gave the stock an overweight rating in a report on Friday, March 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation Entertainment has an average rating of Buy and a consensus price target of $62.00.

LYV opened at $63.63 on Tuesday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.94 and a quick ratio of 0.94. Live Nation Entertainment has a 52 week low of $42.61 and a 52 week high of $67.00. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of -707.00 and a beta of 1.14.



Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, May 2nd. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.03. Live Nation Entertainment had a net margin of 0.22% and a return on equity of 1.77%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the business earned ($0.24) EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment will post 0.27 EPS for the current year.

In other news, Director Ariel Emanuel sold 7,790 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $64.25, for a total value of $500,507.50. Following the completion of the transaction, the director now owns 71,394 shares of the company’s stock, valued at approximately $4,587,064.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.19% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in LYV. Scout Investments Inc. lifted its position in Live Nation Entertainment by 179.1% in the 1st quarter. Scout Investments Inc. now owns 218,435 shares of the company’s stock valued at $13,879,000 after acquiring an additional 140,170 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Live Nation Entertainment in the 4th quarter valued at $217,000. Bank of Montreal Can lifted its position in Live Nation Entertainment by 137.7% in the 4th quarter. Bank of Montreal Can now owns 99,553 shares of the company’s stock valued at $4,904,000 after acquiring an additional 57,678 shares in the last quarter. Mizuho Securities USA LLC bought a new stake in Live Nation Entertainment in the 4th quarter valued at $685,000. Finally, Exane Derivatives bought a new stake in Live Nation Entertainment in the 4th quarter valued at $32,000. 69.97% of the stock is owned by institutional investors.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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