Live Nation Entertainment, Inc. (NYSE:LYV) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts remain broadly positive: Live Nation has a “Moderate Buy” consensus from 24 firms, with 20 buy ratings and an average 12-month price target of $191.67.
• The stock opened at $184.48, near its 52-week high of $188.00, while quarterly revenue rose 12.1% year over year to $3.79 billion. However, adjusted earnings of negative $1.85 per share missed the consensus estimate by $1.50.
• Insiders recently sold shares: Two executive vice presidents sold a combined 156,854 shares, while institutional investors own 74.52% of the company.

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-four ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $191.6667.

A number of research analysts recently weighed in on the stock. Roth Capital reaffirmed a "buy" rating and issued a $205.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, July 15th. Oppenheimer set a $100.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Wells Fargo & Company increased their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Rothschild & Co Redburn raised their price objective on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Finally, Citizens Jmp lifted their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the company a "market outperform" rating in a research report on Wednesday, July 22nd.

Live Nation Entertainment Trading Up 2.0%

NYSE LYV opened at $184.48 on Thursday. Live Nation Entertainment has a 52 week low of $125.34 and a 52 week high of $188.00. 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 stock's 50 day moving average price is $174.49 and its two-hundred day moving average price is $161.94. The stock has a market capitalization of $43.45 billion, a price-to-earnings ratio of -104.22 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.Live Nation Entertainment's revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.32) earnings per share. As a group, analysts anticipate that Live Nation Entertainment will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares of the company's stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Hopmans sold 93,078 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the sale, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.89% of the stock is owned by company insiders.

Institutional Trading of Live Nation Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Leonteq Securities AG bought a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $25,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at about $26,000. Burkett Financial Services LLC acquired a new stake in Live Nation Entertainment in the 2nd quarter valued at about $26,000. Elyxium Wealth LLC acquired a new stake in Live Nation Entertainment in the 4th quarter valued at about $30,000. Finally, DV Equities LLC bought a new position in Live Nation Entertainment during the fourth quarter worth about $31,000. 74.52% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.