Brokerages Set Live Nation Entertainment, Inc. (NYSE:LYV) Target Price at $116.83

Live Nation Entertainment, Inc. (NYSE:LYV) has received an average recommendation of “Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. Thirteen analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued a report on the stock in the last year is $116.83.

LYV has been the topic of a number of recent analyst reports. Roth Mkm reissued a “buy” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Redburn Atlantic raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and increased their target price for the company from $114.00 to $115.00 in a research note on Thursday, May 9th. Finally, TD Cowen restated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th.

Live Nation Entertainment Stock Down 7.8 %

LYV opened at $93.48 on Tuesday. Live Nation Entertainment has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The business has a 50-day moving average of $98.18 and a 200-day moving average of $93.30. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $21.64 billion, a PE ratio of 89.03, a price-to-earnings-growth ratio of 2.06 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the business earned ($0.25) earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities research analysts forecast that Live Nation Entertainment will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now owns 59,374 shares in the company, valued at approximately $5,967,087. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Live Nation Entertainment by 14.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 154,640 shares of the company’s stock worth $13,819,000 after acquiring an additional 20,003 shares during the last quarter. Bank of Nova Scotia raised its stake in Live Nation Entertainment by 6.9% during the 3rd quarter. Bank of Nova Scotia now owns 560,768 shares of the company’s stock worth $46,566,000 after buying an additional 36,298 shares during the period. Bank of New Hampshire bought a new stake in Live Nation Entertainment during the 4th quarter worth approximately $1,735,000. International Assets Investment Management LLC bought a new stake in Live Nation Entertainment during the 4th quarter worth approximately $788,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Live Nation Entertainment by 13.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 567,995 shares of the company’s stock valued at $53,164,000 after acquiring an additional 66,390 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

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.