Live Nation Entertainment (LYV) Stock Rating Upgraded by Zacks Investment Research

Live Nation Entertainment (NYSE:LYV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Live Nation Entertainment, Inc. is the world’s premier live entertainment company, consisting of Live Nation, Ticketmaster and Front Line Management Group. The Company engages in producing, marketing, and selling live concerts for artists via its concert pipe. Live Nation owns and operates many venues, including House of Blues music venues and locations, such as The Fillmore in San Francisco, Nikon at Jones Beach Theatre in New York and London’s Wembley Arena. In addition, it also produces, promotes or hosts theatrical, specialized motor sports and other live entertainment events. The Company is driving major innovations in ticketing technology, marketing and service. It offers ticket sales, ticket resale services, and marketing and distribution through ticketmaster.com, an e-commerce site on the Internet. Live Nation Entertainment, Inc. was formerly known as Live Nation, Inc. and is based in Beverly Hills, California. “

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A number of other equities research analysts have also recently commented on the company. ValuEngine raised Live Nation Entertainment from a “hold” rating to a “buy” rating in a report on Monday. Guggenheim reissued a “buy” rating and set a $53.00 price target on shares of Live Nation Entertainment in a report on Thursday, March 1st. Macquarie restated a “buy” rating and set a $55.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, March 1st. Finally, Citigroup lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Saturday, December 30th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.14.

NYSE:LYV traded down $0.31 on Wednesday, reaching $38.66. 402,593 shares of the company’s stock traded hands, compared to its average volume of 1,767,566. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.38. The stock has a market cap of $7,999.93, a PE ratio of -81.19 and a beta of 0.97. Live Nation Entertainment has a 12 month low of $30.50 and a 12 month high of $49.11.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($1.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.08) by ($0.04). The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.06 billion. Live Nation Entertainment had a negative net margin of 0.24% and a negative return on equity of 1.71%. sell-side analysts anticipate that Live Nation Entertainment will post 0.37 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of LYV. William Blair Investment Management LLC grew its position in shares of Live Nation Entertainment by 35.9% during the fourth quarter. William Blair Investment Management LLC now owns 4,138,611 shares of the company’s stock valued at $176,181,000 after purchasing an additional 1,093,022 shares in the last quarter. Renaissance Technologies LLC grew its position in Live Nation Entertainment by 25.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,767,366 shares of the company’s stock worth $160,377,000 after acquiring an additional 758,666 shares in the last quarter. Wells Fargo & Company MN grew its position in Live Nation Entertainment by 29.1% in the fourth quarter. Wells Fargo & Company MN now owns 2,786,851 shares of the company’s stock worth $118,636,000 after acquiring an additional 627,695 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Live Nation Entertainment in the fourth quarter worth about $26,704,000. Finally, Millennium Management LLC grew its position in Live Nation Entertainment by 182.1% in the fourth quarter. Millennium Management LLC now owns 734,470 shares of the company’s stock worth $31,266,000 after acquiring an additional 474,071 shares in the last quarter. Hedge funds and other institutional investors own 69.08% of the company’s stock.

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About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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