Live Nation Entertainment (NYSE:LYV) Reaches New 12-Month High - Time to Buy?

Key Points

• Live Nation Entertainment (NYSE:LYV) reached a new 52-week high of $166.54, closing at $165.85, indicating strong stock performance with a trading volume of over 1.9 million shares.
• The stock has received a consensus "Buy" rating from analysts, with an average target price of $168.94, although some brokerages have recently lowered their price objectives.
• The company's recent quarterly earnings report showed a revenue of $7.01 billion, outperforming expectations, despite an EPS miss compared to analyst forecasts.

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $166.54 and last traded at $165.85, with a volume of 1914577 shares. The stock had previously closed at $162.47.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LYV. Roth Mkm reduced 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 research report on Friday, May 2nd. Rosenblatt Securities reduced their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Guggenheim restated a "buy" rating and set a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Finally, Oppenheimer raised their price objective 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. Eighteen analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of "Buy" and an average target price of $168.94.

Live Nation Entertainment Stock Performance

The company has a market cap of $38.81 billion, a PE ratio of 71.66, a P/E/G ratio of 10.00 and a beta of 1.46. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The stock's 50-day simple moving average is $151.31 and its 200 day simple moving average is $141.16.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced 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). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The firm's quarterly revenue was up 16.3% compared to the same quarter last year. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Live Nation Entertainment by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 984,603 shares of the company's stock worth $127,528,000 after purchasing an additional 80,109 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of Live Nation Entertainment by 45.4% during the 4th quarter. MML Investors Services LLC now owns 9,475 shares of the company's stock worth $1,227,000 after acquiring an additional 2,958 shares during the period. OneDigital Investment Advisors LLC purchased a new position in shares of Live Nation Entertainment during the 4th quarter worth about $236,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Live Nation Entertainment by 45.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 865,871 shares of the company's stock worth $112,131,000 after acquiring an additional 268,857 shares during the period. Finally, MGO One Seven LLC purchased a new position in shares of Live Nation Entertainment during the 4th quarter worth about $287,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

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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