Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been given a consensus rating of “Buy” by the twelve research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $56.01.
A number of research analysts have commented on LYV shares. Guggenheim restated a “buy” rating and set a $55.00 price objective on shares of Live Nation Entertainment in a research note on Friday, July 13th. BTIG Research upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, July 24th. Jefferies Financial Group boosted their price target on Live Nation Entertainment from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Northcoast Research cut Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 17th. Finally, Stephens set a $60.00 price target on Live Nation Entertainment and gave the stock a “buy” rating in a research note on Friday, July 27th. They noted that the move was a valuation call.
Shares of LYV traded up $0.52 during midday trading on Wednesday, reaching $51.94. 836,440 shares of the company were exchanged, compared to its average volume of 1,526,933. The stock has a market cap of $11.39 billion, a PE ratio of -107.07 and a beta of 1.01. Live Nation Entertainment has a 1-year low of $35.94 and a 1-year high of $55.26. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.01 and a quick ratio of 1.01.
Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 26th. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.05. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Live Nation Entertainment had a negative return on equity of 2.49% and a negative net margin of 0.35%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 earnings per share. On average, research analysts anticipate that Live Nation Entertainment will post 0.01 earnings per share for the current year.
In related news, President Joe Berchtold sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $49.48, for a total value of $1,979,200.00. Following the transaction, the president now owns 148,409 shares in the company, valued at $7,343,277.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Ted Enloe III sold 7,000 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $54.07, for a total value of $378,490.00. Following the completion of the sale, the director now directly owns 17,508 shares of the company’s stock, valued at $946,657.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 247,000 shares of company stock worth $12,186,490. Insiders own 5.19% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Point72 Asia Hong Kong Ltd bought a new stake in Live Nation Entertainment in the first quarter valued at about $194,000. TLP Group LLC bought a new stake in Live Nation Entertainment in the first quarter valued at about $201,000. NumerixS Investment Technologies Inc increased its holdings in Live Nation Entertainment by 130.8% in the second quarter. NumerixS Investment Technologies Inc now owns 4,171 shares of the company’s stock valued at $203,000 after buying an additional 2,364 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in Live Nation Entertainment in the second quarter valued at about $205,000. Finally, Santa Monica Partners LP bought a new stake in Live Nation Entertainment in the second quarter valued at about $228,000. 69.81% of the stock is owned by hedge funds and other 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 and/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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