Live Nation Entertainment (NYSE:LYV) Given New $187.00 Price Target at Susquehanna

Live Nation Entertainment (NYSE:LYV) had its price objective hoisted by equities research analysts at Susquehanna from $186.00 to $187.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s target price would suggest a potential upside of 2.02% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Oppenheimer set a $100.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Wall Street Zen raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Morgan Stanley lifted their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Finally, The Goldman Sachs Group boosted their target price on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Twenty investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.71.

Live Nation Entertainment Stock Down 0.6%

Shares of Live Nation Entertainment stock opened at $183.29 on Friday. Live Nation Entertainment has a 12-month low of $125.34 and a 12-month high of $188.00. The firm has a market capitalization of $43.17 billion, a PE ratio of -103.55 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock’s fifty day moving average is $174.83 and its 200-day moving average is $162.20.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. The firm had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.Live Nation Entertainment’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Equities analysts anticipate that Live Nation Entertainment will post 0.94 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds have recently modified their holdings of LYV. Leonteq Securities AG purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth $25,000. Nvest Wealth Strategies Inc. acquired a new stake in Live Nation Entertainment during the fourth quarter valued at $26,000. Burkett Financial Services LLC purchased a new position in Live Nation Entertainment in the second quarter valued at about $26,000. Elyxium Wealth LLC acquired a new position in Live Nation Entertainment in the 4th quarter worth about $30,000. Finally, DV Equities LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $31,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment News Roundup

Here are the key news stories impacting Live Nation Entertainment this week:

• Positive Sentiment: Live Nation reported quarterly revenue of $7.67 billion, up 9.4% year over year and ahead of the approximately $7.56 billion consensus estimate. Concert revenue, the company’s largest segment, rose 8%, helped by strong international demand. Live Nation Revenue Rises, Boosted by International Demand for Concerts
• Positive Sentiment: Adjusted earnings came in at $1.05 per share, well above analysts’ estimates ranging from $0.59 to $0.66 and up from $0.41 a year earlier. The earnings beat reinforces the company’s operating momentum and provides a positive catalyst for LYV. Live Nation Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management said fan growth reached records and described concert ticket sales as the strongest in company history. Raised expectations for the remainder of the year suggest continued demand across concerts, Ticketmaster and sponsorships. Earnings Call Highlights
• Neutral Sentiment: The upbeat results may have been partly anticipated: LYV recently traded near its 12-month high, so investors could focus on how much additional growth is reflected in the valuation rather than the headline earnings beat.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.