Macquarie Forecasts Strong Price Appreciation for Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment (NYSE:LYV) had its price objective increased by Macquarie from $146.00 to $165.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Macquarie’s target price points to a potential upside of 29.35% from the stock’s current price.

Several other equities analysts have also commented on LYV. Morgan Stanley increased their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. TD Cowen upped their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Guggenheim upped their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $127.56 on Thursday. The firm has a market capitalization of $29.77 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The business’s fifty day moving average price is $140.55 and its 200 day moving average price is $125.36. 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 has a 12 month low of $86.81 and a 12 month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, sell-side analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.72% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH acquired a new stake in Live Nation Entertainment in the fourth quarter valued at about $832,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Live Nation Entertainment in the fourth quarter valued at about $8,865,000. Mackenzie Financial Corp lifted its position in Live Nation Entertainment by 655.9% in the fourth quarter. Mackenzie Financial Corp now owns 90,822 shares of the company’s stock valued at $11,761,000 after purchasing an additional 78,807 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Live Nation Entertainment in the fourth quarter valued at about $9,449,000. Finally, Neo Ivy Capital Management acquired a new stake in Live Nation Entertainment in the fourth quarter valued at about $102,000. Institutional investors and hedge funds 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.