Live Nation Entertainment (NYSE:LYV) Now Covered by Analysts at Citizens Jmp

Key Points

• Analyst firm Citizens Jmp initiated coverage on Live Nation with a "market outperform" rating and a $190 price target, implying roughly a 30% upside from the prior close.
• MarketBeat data shows a consensus of "Moderate Buy" with a consensus price target of $184.67, based on one Strong Buy, 20 Buy, two Hold and one Sell among analysts.
• In the most recent quarter Live Nation reported an EPS miss (‑$1.06 vs. an expected ‑$1.00) but beat revenue estimates ($6.31B vs. $6.12B) with revenue up 11.1% year‑over‑year.

Equities researchers at Citizens Jmp began coverage on shares of Live Nation Entertainment (NYSE:LYV - Get Free Report) in a report released on Monday,Benzinga reports. The firm set a "market outperform" rating and a $190.00 price target on the stock. Citizens Jmp's price target would indicate a potential upside of 30.37% from the company's previous close.

A number of other analysts also recently weighed in on LYV. Evercore reissued an "outperform" rating and set a $198.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Sanford C. Bernstein increased their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, February 20th. Wall Street Zen lowered shares of Live Nation Entertainment from a "hold" rating to a "sell" rating in a report on Sunday, March 15th. Finally, Zacks Research cut shares of Live Nation Entertainment from a "hold" rating to a "strong sell" rating in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of "Moderate Buy" and a consensus price target of $184.67.

Live Nation Entertainment Stock Up 0.0%

Shares of LYV opened at $145.74 on Monday. The company has a market capitalization of $34.22 billion, a PE ratio of -607.25 and a beta of 1.11. Live Nation Entertainment has a 12 month low of $113.20 and a 12 month high of $175.25. The stock's 50-day moving average price is $152.71 and its two-hundred day moving average price is $149.24. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 EPS. On average, analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the sale, the director owned 48,030 shares in the company, valued at $7,966,736.10. The trade was a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of LYV. Vanguard Group Inc. lifted its holdings in shares of Live Nation Entertainment by 1.8% in the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company's stock valued at $3,378,970,000 after purchasing an additional 372,715 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Live Nation Entertainment by 10.3% during the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company's stock worth $1,528,700,000 after buying an additional 1,001,905 shares in the last quarter. Independent Franchise Partners LLP grew its stake in shares of Live Nation Entertainment by 3.5% in the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company's stock worth $817,055,000 after acquiring an additional 193,104 shares in the last quarter. Capital World Investors grew its stake in shares of Live Nation Entertainment by 4.8% in the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company's stock worth $840,829,000 after acquiring an additional 237,342 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company's stock valued at $610,707,000 after purchasing an additional 20,165 shares during the last quarter. 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.