Live Nation Entertainment (NYSE:LYV) Trading 6.5% Higher – Should You Buy?

Live Nation Entertainment, Inc. (NYSE:LYV)’s share price was up 6.5% during trading on Friday . The stock traded as high as $144.23 and last traded at $147.1670. Approximately 1,225,063 shares were traded during trading, a decline of 53% from the average daily volume of 2,590,421 shares. The stock had previously closed at $138.14.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Roth Mkm cut their price target on Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Jefferies Financial Group downgraded Live Nation Entertainment from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $161.00 to $155.00 in a report on Tuesday, January 13th. Citigroup decreased their price target on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Finally, Morgan Stanley reduced their target price on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Seventeen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.30.

Live Nation Entertainment Price Performance

The company’s 50-day simple moving average is $139.50 and its 200-day simple moving average is $150.16. The stock has a market capitalization of $34.52 billion, a P/E ratio of 106.58, a price-to-earnings-growth ratio of 9.19 and a beta of 1.20. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same period in the previous year, the company posted $1.66 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the business. Clearstead Trust LLC boosted its position in Live Nation Entertainment by 469.0% during the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after purchasing an additional 136 shares during the period. Ameriflex Group Inc. lifted 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 worth $27,000 after buying an additional 84 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth about $33,000. Heartwood Wealth Advisors LLC bought a new position in Live Nation Entertainment in the 3rd quarter valued at about $34,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in Live Nation Entertainment during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

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.