Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price objective hoisted by stock analysts at Rothschild & Co Redburn from $193.00 to $195.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. Rothschild & Co Redburn's price objective would suggest a potential upside of 16.97% from the company's current price.
Other research analysts have also issued reports about the company. Wells Fargo & Company lowered their price target on Live Nation Entertainment from $203.00 to $199.00 and set an "overweight" rating on the stock in a report on Wednesday. UBS Group increased their target price on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the company a "buy" rating in a research report on Friday, February 20th. The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $190.00 to $192.00 in a research note on Wednesday. Evercore reaffirmed an "outperform" rating and issued a $198.00 price target on shares of Live Nation Entertainment in a research note on Friday, February 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Live Nation Entertainment from $160.00 to $180.00 and gave the company a "buy" rating in a report on Monday, February 23rd. Twenty analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and a consensus target price of $187.75.
Get Our Latest Stock Analysis on Live Nation Entertainment
Live Nation Entertainment Stock Performance
Shares of NYSE:LYV traded down $1.12 during trading hours on Wednesday, hitting $166.71. The stock had a trading volume of 152,162 shares, compared to its average volume of 2,953,146. The stock's fifty day simple moving average is $157.37 and its 200 day simple moving average is $148.63. The firm has a market capitalization of $39.20 billion, a price-to-earnings ratio of -93.82 and a beta of 1.11. The company has a debt-to-equity ratio of 8.51, a quick ratio of 1.00 and a current ratio of 1.00. Live Nation Entertainment has a 1-year low of $125.34 and a 1-year high of $175.25.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 40.06% and a net margin of 0.15%.The business's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned ($0.32) earnings per share. Sell-side analysts anticipate that Live Nation Entertainment will post 1.39 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director owned 48,030 shares in the company, valued at approximately $7,966,736.10. This represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.89% of the company's stock.
Institutional Investors Weigh In On Live Nation Entertainment
Several hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in Live Nation Entertainment by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company's stock worth $1,589,196,000 after purchasing an additional 1,763,511 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $1,606,000. Profund Advisors LLC lifted its stake in shares of Live Nation Entertainment by 51.1% in the third quarter. Profund Advisors LLC now owns 11,141 shares of the company's stock worth $1,820,000 after buying an additional 3,767 shares during the last quarter. EFG Asset Management North America Corp. bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth $1,191,000. Finally, J. Safra Sarasin Holding AG acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $2,015,000. 74.52% of the stock is owned by hedge funds and other institutional investors.
More Live Nation Entertainment News
Here are the key news stories impacting Live Nation Entertainment this week:
Live Nation Entertainment Company Profile
(
Get Free Report)
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.
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