Live Nation Entertainment (NYSE:LYV) Price Target Raised to $215.00

Key Points

• Oppenheimer raised its price target on Live Nation from $210 to $215 and maintained an “outperform” rating, implying about 20.3% upside from the share price cited in the report.
• Analyst sentiment is broadly positive: 20 analysts rate the stock Buy, two Hold and three Sell, for a consensus “Moderate Buy” rating and an average target of $203.14.
• Live Nation beat quarterly estimates, reporting earnings of $1.69 per share versus $1.50 expected and revenue of $10.11 billion versus $9.60 billion; revenue increased 18.9% year over year.

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price objective hoisted by research analysts at Oppenheimer from $210.00 to $215.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective would indicate a potential upside of 20.28% from the company's current price.

Several other research analysts have also commented on the stock. Benchmark lifted their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Wells Fargo & Company reduced their target price on shares of Live Nation Entertainment from $222.00 to $221.00 and set an "overweight" rating on the stock in a research note on Friday. Cfra cut shares of Live Nation Entertainment from a "hold" rating to a "sell" rating in a research note on Tuesday, October 20th. TD Cowen reiterated a "buy" rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Finally, BTIG Research reissued a "buy" rating and issued a $215.00 price objective on shares of Live Nation Entertainment in a research report on Monday, October 19th. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $203.14.

Live Nation Entertainment Price Performance

NYSE LYV traded up $2.12 on Tuesday, reaching $178.75. The company had a trading volume of 707,965 shares, compared to its average volume of 2,535,487. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The stock has a market capitalization of $42.12 billion, a PE ratio of -1,051.95 and a beta of 1.15. The firm's 50 day moving average price is $172.76 and its 200 day moving average price is $167.59. Live Nation Entertainment has a 12 month low of $125.34 and a 12 month high of $189.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.19. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm had revenue of $10.11 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the firm posted $0.73 earnings per share. Live Nation Entertainment's revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, equities analysts predict that Live Nation Entertainment will post 1.06 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the transaction, the chief accounting officer directly owned 8,655 shares in the company, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Live Nation Entertainment by 3.4% in the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company's stock valued at $1,692,151,000 after acquiring an additional 367,624 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter worth $1,221,398,000. Canada Pension Plan Investment Board acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter worth $859,018,000. Bessemer Group Inc. grew its stake in Live Nation Entertainment by 25.8% during the 1st quarter. Bessemer Group Inc. now owns 2,319,123 shares of the company's stock worth $353,690,000 after buying an additional 475,373 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Live Nation Entertainment by 11.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,393,745 shares of the company's stock worth $212,502,000 after buying an additional 143,432 shares during the last quarter. Institutional investors own 74.52% of the company's stock.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events.

The company's businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.

Live Nation was formed in 2010 through the merger of concert promoter Live Nation and ticketing company Ticketmaster.

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