Analysts Set Live Nation Entertainment, Inc. (NYSE:LYV) PT at $184.40

Live Nation Entertainment, Inc. (NYSE:LYV) has earned an average rating of “Moderate Buy” from the twenty-four analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $184.6190.

A number of research firms have commented on LYV. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Rothschild & Co Redburn raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and increased their target price for the stock from $166.00 to $193.00 in a report on Friday, February 27th. Wall Street Zen downgraded shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Sunday, March 15th. Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Live Nation Entertainment from $204.00 to $203.00 and set an “overweight” rating on the stock in a research note on Thursday.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, the director owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.01% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of LYV. Leonteq Securities AG acquired a new stake in shares of Live Nation Entertainment in the 4th quarter worth about $25,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. increased its stake in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares during the period. Elyxium Wealth LLC bought a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $30,000. Finally, DV Equities LLC acquired a new position in shares of Live Nation Entertainment during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.1%

NYSE LYV traded up $0.21 on Friday, hitting $155.96. 2,224,636 shares of the stock traded hands, compared to its average volume of 3,120,463. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. The stock has a 50-day moving average of $153.64 and a 200 day moving average of $148.99. Live Nation Entertainment has a twelve month low of $113.20 and a twelve month high of $175.25. The company has a market capitalization of $36.62 billion, a P/E ratio of -649.85 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.Live Nation Entertainment’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS. As a group, analysts expect that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

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.