Live Nation Entertainment, Inc. (NYSE:LYV) Stock Has Consensus Price Target of $197.90

Live Nation Entertainment, Inc. (NYSE:LYV) has been given a consensus rating of “Moderate Buy” by the twenty-five ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and twenty have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $197.67.

A number of analysts have recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Live Nation Entertainment in a research note on Thursday, October 1st. Cfra lowered shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, October 20th. Oppenheimer set a $100.00 target price on Live Nation Entertainment in a report on Tuesday, July 28th. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. Finally, Wells Fargo & Company decreased their price target on Live Nation Entertainment from $222.00 to $221.00 and set an “overweight” rating for the company in a research note on Friday.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $176.78 on Friday. Live Nation Entertainment has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The firm’s 50-day simple moving average is $172.76 and its 200 day simple moving average is $167.59. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The stock has a market cap of $41.65 billion, a P/E ratio of -1,039.87 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, November 5th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. The firm had revenue of $10.11 billion during the quarter, compared to analyst estimates of $9.60 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. Live Nation Entertainment’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. Equities analysts expect that Live Nation Entertainment will post 1.06 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in shares of Live Nation Entertainment by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock valued at $1,692,151,000 after purchasing an additional 367,624 shares in the last quarter. Bank of America Corp DE acquired a new stake in Live Nation Entertainment during the second quarter valued at approximately $1,221,398,000. Canada Pension Plan Investment Board acquired a new stake in Live Nation Entertainment during the second quarter valued at approximately $859,018,000. Bessemer Group Inc. boosted its holdings in Live Nation Entertainment by 25.8% during the first quarter. Bessemer Group Inc. now owns 2,319,123 shares of the company’s stock worth $353,690,000 after buying an additional 475,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Live Nation Entertainment by 11.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,393,745 shares of the company’s stock worth $212,502,000 after buying an additional 143,432 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events.

The company’s businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.

Live Nation was formed in 2010 through the merger of concert promoter Live Nation and ticketing company Ticketmaster.