Live Nation Entertainment, Inc. (NYSE:LYV) Receives $171.89 Average Target Price from Brokerages

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have received a consensus rating of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $171.8947.

Several brokerages recently issued reports on LYV. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. Rothschild Redb cut Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Oppenheimer increased their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Moffett Nathanson assumed coverage on Live Nation Entertainment in a report on Monday, August 18th. They set a “buy” rating and a $195.00 price target for the company. Finally, Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a report on Thursday, July 24th.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $148.20 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The business’s 50 day moving average is $160.92 and its 200-day moving average is $150.25. Live Nation Entertainment has a 1-year low of $112.88 and a 1-year high of $175.25. The firm has a market cap of $34.75 billion, a P/E ratio of 64.15, a price-to-earnings-growth ratio of 12.85 and a beta of 1.40.

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

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. bought a new stake in Live Nation Entertainment during the first quarter worth $1,153,000. Stratos Wealth Partners LTD. bought a new stake in shares of Live Nation Entertainment in the 1st quarter worth approximately $272,000. Teacher Retirement System of Texas bought a new stake in Live Nation Entertainment during the 1st quarter valued at $3,081,000. Personal CFO Solutions LLC bought a new stake in Live Nation Entertainment during the 1st quarter valued at $277,000. Finally, Transcend Capital Advisors LLC purchased a new position in Live Nation Entertainment during the 1st quarter valued at about $281,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

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.