Live Nation Entertainment, Inc. (NYSE:LYV) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Live Nation Entertainment, Inc. has received a consensus recommendation of "Buy" from seventeen analysts, with an average 12-month price objective of $167.41.
• Insider trading activity included EVP John Hopmans selling 34,808 shares for a total of approximately $5.13 million, reducing his ownership by 15.52%.
• The company's revenue for the quarter was $7.01 billion, exceeding analyst expectations, although the earnings per share fell short of estimates.

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) has been given a consensus recommendation of "Buy" by the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. Seventeen equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $167.4118.

Several equities research analysts have commented on LYV shares. Benchmark increased their price objective on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Wolfe Research raised their price objective on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Rosenblatt Securities cut their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price target for the company. Finally, Guggenheim reaffirmed a "buy" rating and set a $170.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 18th.

Insider Buying and Selling

In related news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the sale, the executive vice president owned 189,456 shares of the company's stock, valued at $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clearstead Trust LLC raised its holdings in shares of Live Nation Entertainment by 469.0% during the second quarter. Clearstead Trust LLC now owns 165 shares of the company's stock valued at $25,000 after purchasing an additional 136 shares during the last quarter. Measured Risk Portfolios Inc. purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth $29,000. Wayfinding Financial LLC bought a new position in shares of Live Nation Entertainment during the first quarter worth $30,000. Chilton Capital Management LLC bought a new position in shares of Live Nation Entertainment during the first quarter worth $33,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Live Nation Entertainment during the first quarter worth $42,000. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Trading Up 0.3%

LYV opened at $158.95 on Thursday. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment has a fifty-two week low of $91.58 and a fifty-two week high of $159.97. The firm has a market capitalization of $37.27 billion, a PE ratio of 68.81, a P/E/G ratio of 5.93 and a beta of 1.46. The company's 50-day moving average is $148.53 and its 200 day moving average is $140.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%. The company's revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. As a group, research analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.

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