Live Nation Entertainment, Inc. (NYSE:LYV) Receives $162.07 Average Price Target from Analysts

Live Nation Entertainment, Inc. (NYSE:LYV) has been assigned an average recommendation of “Buy” from the sixteen research firms that are currently covering the company, MarketBeat.com reports. Sixteen equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $163.50.

Several brokerages recently issued reports on LYV. Sanford C. Bernstein began coverage on Live Nation Entertainment in a research report on Wednesday. They set an “outperform” rating and a $185.00 price objective for the company. Roth Mkm cut their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Bank of America lifted their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Benchmark restated a “buy” rating and set a $178.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Finally, Susquehanna initiated coverage on Live Nation Entertainment in a research report on Monday, April 28th. They set a “positive” rating and a $155.00 price objective for the company.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. The trade was a 32.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 40,374 shares of company stock worth $5,815,812. Insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in LYV. Measured Risk Portfolios Inc. acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth $29,000. Wayfinding Financial LLC acquired a new stake in Live Nation Entertainment in the 1st quarter valued at $30,000. Chilton Capital Management LLC acquired a new stake in Live Nation Entertainment in the 1st quarter valued at $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment in the 4th quarter valued at $40,000. Finally, Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment in the 4th quarter valued at $42,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $144.29 on Friday. The business’s 50 day simple moving average is $134.81 and its 200-day simple moving average is $135.72. The firm has a market capitalization of $33.44 billion, a price-to-earnings ratio of 53.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44. 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 issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. As a group, equities analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

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.