Live Nation Entertainment, Inc. (NYSE:LYV) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• Live Nation Entertainment, Inc. (NYSE:LYV) has received a consensus "Buy" rating from 18 brokerages, with an average one-year target price of $168.94.
• Despite reporting an EPS miss of $0.41 compared to an estimate of $1.08, the company achieved a revenue of $7.01 billion, surpassing expectations of $6.93 billion.
• Major institutional investors have increased their stakes in Live Nation, with Vanguard Group lifting its position by 2.1% in the second quarter.

Shares of Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) have received a consensus recommendation of "Buy" from the eighteen brokerages that are presently covering the stock, Marketbeat.com reports. Eighteen equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $168.9444.

LYV has been the subject of several research analyst reports. Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a research report on Monday, August 18th. They issued a "buy" rating and a $195.00 target price for the company. Oppenheimer raised their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Sanford C. Bernstein started coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price for the company. Guggenheim reissued a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Finally, Benchmark lifted their price target on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 8th.

Live Nation Entertainment Price Performance

LYV stock opened at $163.27 on Monday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment has a 52 week low of $92.57 and a 52 week high of $167.94. The firm's fifty day moving average is $154.84 and its 200 day moving average is $142.13. The firm has a market cap of $38.28 billion, a P/E ratio of 70.68, a P/E/G ratio of 11.02 and a beta of 1.42.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Live Nation Entertainment by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company's stock valued at $3,071,954,000 after acquiring an additional 423,541 shares during the period. Canada Pension Plan Investment Board raised its holdings in Live Nation Entertainment by 4.4% in the first quarter. Canada Pension Plan Investment Board now owns 9,029,939 shares of the company's stock worth $1,179,129,000 after buying an additional 379,924 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Live Nation Entertainment by 4.0% in the first quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company's stock worth $991,952,000 after buying an additional 294,310 shares during the last quarter. Independent Franchise Partners LLP raised its holdings in Live Nation Entertainment by 21.4% in the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock worth $744,118,000 after buying an additional 1,004,574 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Live Nation Entertainment by 3.8% in the second quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company's stock worth $639,849,000 after buying an additional 156,471 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

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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