Live Nation Entertainment (NYSE:LYV) Raised to Buy at Rothschild & Co Redburn

Live Nation Entertainment (NYSE:LYV) was upgraded by equities researchers at Rothschild & Co Redburn from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat reports. The brokerage presently has a $193.00 price target on the stock. Rothschild & Co Redburn’s target price suggests a potential upside of 22.28% from the company’s current price.

A number of other brokerages also recently commented on LYV. Zacks Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, January 16th. Guggenheim dropped their price objective on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. UBS Group lifted their target price on Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Jefferies Financial Group cut Live Nation Entertainment from a “buy” rating to a “hold” rating and lowered their target price for the stock from $161.00 to $155.00 in a report on Tuesday, January 13th. Finally, Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $182.19.

Live Nation Entertainment Price Performance

LYV opened at $157.83 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The business has a fifty day moving average of $147.59 and a 200 day moving average of $150.45. Live Nation Entertainment has a 52-week low of $112.88 and a 52-week high of $175.25. The stock has a market cap of $37.06 billion, a P/E ratio of -657.63, a PEG ratio of 19.28 and a beta of 1.18.

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

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of LYV. Axxcess Wealth Management LLC raised its stake in shares of Live Nation Entertainment by 4.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after buying an additional 75 shares during the last quarter. Vident Advisory LLC raised its position in Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after acquiring an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. boosted its position in Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after purchasing an additional 80 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Live Nation Entertainment by 24.4% during the 3rd quarter. Private Trust Co. NA now owns 418 shares of the company’s stock worth $68,000 after purchasing an additional 82 shares during the period. Finally, Sumitomo Life Insurance Co. increased its holdings in shares of Live Nation Entertainment by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

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.