Live Nation Entertainment (NYSE:LYV) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded Live Nation Entertainment from “strong sell” to “hold,” while Weiss Ratings also raised its view to “hold.” Overall, analysts maintain a “Moderate Buy” consensus with a $197.19 average price target.
• Live Nation reported quarterly EPS of $1.05, beating estimates of $0.66, while revenue reached $7.67 billion and increased 9.4% year over year.
• Shares opened at $180.09, near their 52-week high of $189.24. Institutional investors and hedge funds own approximately 74.52% of the company’s stock.

Live Nation Entertainment (NYSE:LYV - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

LYV has been the subject of a number of other reports. Weiss Ratings upgraded Live Nation Entertainment from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. Sanford C. Bernstein upped their price objective on Live Nation Entertainment from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Finally, Roth Capital set a $208.00 price target on Live Nation Entertainment in a research report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.19.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $180.09 on Monday. Live Nation Entertainment has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The business has a 50 day moving average price of $179.49 and a two-hundred day moving average price of $165.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The firm has a market cap of $42.43 billion, a PE ratio of -159.37 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The company had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the company posted $0.41 EPS. Live Nation Entertainment's quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that Live Nation Entertainment will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of Live Nation Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Leonteq Securities AG acquired a new position in Live Nation Entertainment during the 4th quarter valued at approximately $25,000. Nvest Wealth Strategies Inc. acquired a new stake in Live Nation Entertainment in the fourth quarter worth $26,000. Burkett Financial Services LLC bought a new stake in Live Nation Entertainment in the second quarter valued at $26,000. Kilter Group LLC acquired a new position in shares of Live Nation Entertainment during the second quarter valued at $27,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Live Nation Entertainment during the second quarter valued at $27,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

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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