Live Nation Entertainment, Inc. (NYSE:LYV) Stock Has Consensus Price Target of $197.90

Key Points

• Analysts have a “Moderate Buy” consensus on Live Nation, with 20 buy, two hold and three sell ratings among 25 firms; the average 12-month price target is $197.90.
• Quarterly results beat expectations: EPS was $1.69 versus $1.50 forecast, while revenue rose 18.9% year over year to $10.11 billion. Record attendance of 61 million fans and Ticketmaster growth supported performance.
• Narrowing operating margins remain a concern despite the strong sales and earnings, as investors watch whether attendance and ticketing growth can translate into better profitability.

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-five ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and twenty have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $197.90.

A number of research analysts have recently issued reports on LYV shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a research note on Friday, July 31st. Zacks Research cut shares of Live Nation Entertainment from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. Benchmark upped their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Susquehanna dropped their target price on Live Nation Entertainment from $187.00 to $183.00 and set a "neutral" rating on the stock in a report on Tuesday, October 20th. Finally, UBS Group lifted their target price on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the stock a "buy" rating in a research note on Monday, July 20th.

Key Stories Impacting Live Nation Entertainment

Here are the key news stories impacting Live Nation Entertainment this week:

• Positive Sentiment: Live Nation earned $1.69 per share, beating the $1.50 consensus estimate, while revenue rose 18.9% year over year to $10.11 billion, ahead of estimates of $9.60 billion. Live Nation Q3 earnings and revenues surpass estimates
• Positive Sentiment: Record concert attendance and Ticketmaster growth helped drive the results; reports cited 61 million fans attending events during the quarter. Strong demand supports the company’s growth outlook. Live Nation Q3 earnings beat on record attendance and ticketing gains
• Positive Sentiment: Wells Fargo maintained an “overweight” rating and a $221 price target, only slightly below its prior $222 target. The firm’s target suggests substantial upside from the quoted share price. Wells Fargo analyst ratings
• Negative Sentiment: Despite higher sales and earnings, operating margins narrowed, a potential concern given the company’s very thin reported net margin. Investors may watch whether strong attendance and ticketing growth can translate into improved profitability. Live Nation Q3 earnings beat on record attendance and ticketing gains

Live Nation Entertainment Trading Down 3.2%

NYSE:LYV opened at $175.40 on Friday. Live Nation Entertainment has a 12-month low of $125.34 and a 12-month high of $189.24. The firm has a market cap of $41.33 billion, a P/E ratio of -1,031.78 and a beta of 1.15. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. The stock's 50 day simple moving average is $172.84 and its 200-day simple moving average is $167.41.

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

Insider Activity

In other news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares of the company's stock, valued at $1,592,520. The trade was a 25.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.89% of the company's stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Burkett Financial Services LLC acquired a new stake in Live Nation Entertainment in the second quarter valued at approximately $26,000. Kilter Group LLC purchased a new stake in Live Nation Entertainment in the second quarter worth about $27,000. Meeder Asset Management Inc. bought a new position in Live Nation Entertainment during the second quarter valued at approximately $27,000. Transamerica Financial Advisors LLC bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Live Nation Entertainment in the second quarter worth approximately $32,000. Institutional investors and hedge funds 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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