Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have earned a consensus recommendation of “Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $68.71.
A number of equities analysts have issued reports on LYV shares. Zacks Investment Research downgraded Live Nation Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Citigroup downgraded Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 price target for the company. in a research note on Friday, June 28th. Guggenheim set a $80.00 price target on Live Nation Entertainment and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Atlantic Securities started coverage on Live Nation Entertainment in a research note on Tuesday, June 11th. They set an “overweight” rating and a $75.00 price target for the company.
In other Live Nation Entertainment news, EVP Michael Rowles sold 67,840 shares of Live Nation Entertainment stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $71.71, for a total transaction of $4,864,806.40. Following the completion of the transaction, the executive vice president now owns 257,691 shares in the company, valued at approximately $18,479,021.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.82% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Live Nation Entertainment by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,451,018 shares of the company’s stock valued at $824,880,000 after purchasing an additional 254,042 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Live Nation Entertainment by 3.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,162,149 shares of the company’s stock worth $200,923,000 after buying an additional 112,797 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Live Nation Entertainment by 2.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,924,225 shares of the company’s stock worth $127,480,000 after buying an additional 39,992 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Live Nation Entertainment by 1.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,914,072 shares of the company’s stock worth $126,807,000 after buying an additional 25,792 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Live Nation Entertainment by 28.3% in the 1st quarter. CIBC Private Wealth Group LLC now owns 1,655,096 shares of the company’s stock worth $105,165,000 after buying an additional 365,288 shares during the last quarter. Institutional investors and hedge funds own 69.09% of the company’s stock.
Shares of LYV remained flat at $$66.34 during trading hours on Wednesday. The stock had a trading volume of 964,051 shares, compared to its average volume of 1,160,271. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 2.73. The business’s fifty day moving average is $69.84 and its 200 day moving average is $66.69. The firm has a market cap of $14.37 billion, a price-to-earnings ratio of -737.11 and a beta of 1.17. Live Nation Entertainment has a 12 month low of $46.02 and a 12 month high of $73.71.
Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, July 25th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.18 billion. Live Nation Entertainment had a return on equity of 4.49% and a net margin of 0.55%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. On average, research analysts forecast that Live Nation Entertainment will post 0.3 EPS for the current fiscal year.
About Live Nation Entertainment
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 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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