Live Nation Entertainment, Inc. (NYSE:LYV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been given a consensus rating of “Moderate Buy” by the seventeen analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $142.13.

Several brokerages have recently issued reports on LYV. Oppenheimer increased their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Guggenheim upped their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday. Macquarie increased their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Citigroup boosted their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th.

Live Nation Entertainment Stock Up 1.6 %

Shares of NYSE LYV opened at $136.77 on Friday. Live Nation Entertainment has a 1 year low of $82.25 and a 1 year high of $141.18. The company has a market capitalization of $31.78 billion, a P/E ratio of 145.50, a P/E/G ratio of 3.77 and a beta of 1.37. The company has a 50 day simple moving average of $122.77 and a 200-day simple moving average of $104.80. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 EPS. On average, equities research analysts predict that Live Nation Entertainment will post 1.03 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The trade was a 17.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 in the last ninety days. Corporate insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $748,000. Select Equity Group L.P. raised its holdings in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. Davidson Kempner Capital Management LP acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at about $3,985,000. Czech National Bank grew its holdings in shares of Live Nation Entertainment by 17.5% during the 3rd quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after purchasing an additional 4,761 shares during the period. Finally, Coronation Fund Managers Ltd. increased its position in Live Nation Entertainment by 48.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock worth $4,798,000 after purchasing an additional 16,668 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

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.