Live Nation Entertainment, Inc. (NYSE:LYV) Receives $187.75 Consensus Target Price from Analysts

Live Nation Entertainment, Inc. (NYSE:LYV) has earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $187.75.

A number of research analysts have recently issued reports on the stock. Guggenheim lifted their price objective on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Live Nation Entertainment in a research report on Monday, March 9th. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, February 23rd. Roth Mkm reissued a “buy” rating and issued a $190.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th.

Insiders Place Their Bets

In related news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated 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 $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the transaction, the director owned 48,030 shares in the company, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 157,798 shares of company stock valued at $26,088,615. Insiders own 2.89% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several large investors have recently made changes to their positions in LYV. Leonteq Securities AG purchased a new position 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 4th quarter worth about $26,000. Ameriflex Group Inc. raised its stake in shares of Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after buying an additional 84 shares during the last quarter. Elyxium Wealth LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $30,000. Finally, DV Equities LLC acquired a new stake in Live Nation Entertainment during the fourth quarter worth about $31,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

Shares of LYV opened at $164.72 on Friday. The stock has a market capitalization of $38.80 billion, a PE ratio of -93.06 and a beta of 1.11. Live Nation Entertainment has a fifty-two week low of $125.34 and a fifty-two week high of $175.25. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50 day moving average price of $158.63 and a 200-day moving average price of $149.52.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the firm posted ($0.32) earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Equities analysts predict that Live Nation Entertainment will post 1.13 earnings per share for the current fiscal year.

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.