Live Nation Entertainment (NYSE:LYV) Hits New 12-Month High – What’s Next?

Live Nation Entertainment, Inc. (NYSE:LYV) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $188.10 and last traded at $186.9830, with a volume of 113162 shares trading hands. The stock had previously closed at $185.33.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LYV shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $205.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. UBS Group upped their price objective on Live Nation Entertainment from $181.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, July 20th. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Susquehanna boosted their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, BTIG Research reiterated a “buy” rating and set a $215.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $197.19.

Live Nation Entertainment Trading Up 0.6%

The stock has a market cap of $43.94 billion, a PE ratio of -165.02 and a beta of 1.12. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average price of $177.57 and a 200 day moving average price of $164.63.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.39. The company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.Live Nation Entertainment’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently made changes to their positions in the company. Burkett Financial Services LLC bought a new stake in Live Nation Entertainment in the second quarter worth about $26,000. Kilter Group LLC purchased a new stake in shares of Live Nation Entertainment in the second quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $27,000. Leonteq Securities AG purchased a new position in Live Nation Entertainment during the 4th quarter valued at $25,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Live Nation Entertainment in the 2nd quarter valued at $32,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Company Profile

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.