Live Nation Entertainment (NYSE:LYV) Hits New 1-Year High - Should You Buy?

Key Points

• Live Nation Entertainment's stock reached a new **52-week high** of **$163.00** on Monday, closing at **$162.44** with a trading volume of **380,773 shares**.
• Multiple analysts have raised their target prices for Live Nation, with estimates ranging from **$165.00** to **$180.00**, and a consensus rating of **"Moderate Buy."**
• Despite a quarterly earnings miss with an EPS of **$0.41**, the company reported a **16.3%** year-over-year revenue increase, totaling **$7.01 billion** compared to expectations of **$6.93 billion**.

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $163.00 and last traded at $162.44, with a volume of 380773 shares changing hands. The stock had previously closed at $160.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LYV shares. Wolfe Research upped their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research report on Thursday, July 24th. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a "positive" rating in a research note on Tuesday, June 10th. Roth Mkm cut their price objective on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Guggenheim restated a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of "Moderate Buy" and an average target price of $168.94.

Live Nation Entertainment Trading Up 0.8%

The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $38.04 billion, a price-to-earnings ratio of 70.23, a price-to-earnings-growth ratio of 9.71 and a beta of 1.46. The business's 50 day moving average price is $149.21 and its 200-day moving average price is $140.61.

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

Institutional Investors Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. bought a new stake in Live Nation Entertainment in the fourth quarter valued at about $1,405,000. Townsquare Capital LLC boosted its holdings in Live Nation Entertainment by 6.2% in the fourth quarter. Townsquare Capital LLC now owns 4,630 shares of the company's stock worth $600,000 after purchasing an additional 269 shares during the period. Mariner LLC increased its stake in Live Nation Entertainment by 8.3% during the fourth quarter. Mariner LLC now owns 10,953 shares of the company's stock valued at $1,418,000 after purchasing an additional 844 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $1,173,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in Live Nation Entertainment by 3.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 117,761 shares of the company's stock valued at $15,237,000 after buying an additional 3,663 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

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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