Live Nation Entertainment, Inc. (NYSE:LYV) Given Average Recommendation of “Buy” by Analysts

Live Nation Entertainment, Inc. (NYSE:LYV) has received a consensus recommendation of “Buy” from the eighteen ratings firms that are currently covering the company, Marketbeat reports. Eighteen analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have issued a report on the stock in the last year is $170.7222.

LYV has been the topic of several analyst reports. Wolfe Research boosted their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an “outperform” rating in a report on Tuesday, June 10th. Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They set a “buy” rating and a $195.00 price target on the stock. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a “positive” rating in a report on Tuesday, June 10th. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They set an “outperform” rating and a $185.00 price target on the stock. Finally, Benchmark boosted their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 8th.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $173.75 on Monday. Live Nation Entertainment has a twelve month low of $97.40 and a twelve month high of $175.25. The firm has a fifty day simple moving average of $157.02 and a 200 day simple moving average of $143.02. The company has a market capitalization of $40.74 billion, a PE ratio of 75.22, a P/E/G ratio of 11.72 and a beta of 1.42. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the firm posted $1.03 earnings per share. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, sell-side analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current year.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the business. Mercer Global Advisors Inc. ADV increased its holdings in Live Nation Entertainment by 17.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,021 shares of the company’s stock worth $780,000 after acquiring an additional 899 shares during the period. Baird Financial Group Inc. bought a new stake in Live Nation Entertainment during the 4th quarter worth approximately $345,000. Cetera Investment Advisers increased its holdings in Live Nation Entertainment by 14.8% during the 4th quarter. Cetera Investment Advisers now owns 8,790 shares of the company’s stock worth $1,138,000 after acquiring an additional 1,132 shares during the period. Fiduciary Trust Co bought a new stake in Live Nation Entertainment during the 4th quarter worth approximately $242,000. Finally, Ethic Inc. increased its holdings in Live Nation Entertainment by 15.2% during the 4th quarter. Ethic Inc. now owns 23,445 shares of the company’s stock worth $3,036,000 after acquiring an additional 3,085 shares during the period. Institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

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.