Oppenheimer Reaffirms Outperform Rating for Live Nation Entertainment (NYSE:LYV)

Oppenheimer reaffirmed their outperform rating on shares of Live Nation Entertainment (NYSE:LYV) in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a $110.00 price target on the stock.

Several other brokerages also recently issued reports on LYV. Rosenblatt Securities upped their price target on Live Nation Entertainment from $119.00 to $122.00 and gave the stock a buy rating in a report on Friday, May 3rd. Morgan Stanley reissued an overweight rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the stock a buy rating in a research report on Monday, May 6th. Roth Mkm restated a buy rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research note on Friday, May 24th. Finally, JPMorgan Chase & Co. decreased their price target on Live Nation Entertainment from $126.00 to $116.00 and set an overweight rating for the company in a research report on Wednesday, May 29th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of Moderate Buy and an average target price of $115.58.

Live Nation Entertainment Trading Up 0.6 %

Shares of Live Nation Entertainment stock opened at $90.82 on Tuesday. The stock has a market capitalization of $20.87 billion, a PE ratio of 86.50, a price-to-earnings-growth ratio of 1.84 and a beta of 1.35. The stock has a 50 day moving average price of $92.94 and a two-hundred day moving average price of $94.29. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment has a 52 week low of $76.48 and a 52 week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate 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 business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the firm earned ($0.25) earnings per share. The company’s revenue was up 21.5% on a year-over-year basis. As a group, equities analysts anticipate that Live Nation Entertainment will post 1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale raised its position in shares of Live Nation Entertainment by 130.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 59,529 shares of the company’s stock valued at $6,315,000 after purchasing an additional 33,681 shares during the period. Cetera Advisors LLC bought a new stake in Live Nation Entertainment during the 1st quarter valued at $207,000. Plato Investment Management Ltd lifted its position in shares of Live Nation Entertainment by 3,291.8% during the first quarter. Plato Investment Management Ltd now owns 5,359 shares of the company’s stock worth $567,000 after acquiring an additional 5,201 shares in the last quarter. Western Pacific Wealth Management LP boosted its holdings in shares of Live Nation Entertainment by 14.7% in the first quarter. Western Pacific Wealth Management LP now owns 1,125 shares of the company’s stock worth $119,000 after acquiring an additional 144 shares during the period. Finally, iA Global Asset Management Inc. purchased a new position in shares of Live Nation Entertainment in the first quarter valued at $609,000. Institutional investors own 74.52% of the company’s stock.

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.