Live Nation Entertainment (NYSE:LYV) Sets New 52-Week High - Here's What Happened

Key Points

• Live Nation Entertainment's stock hit a new 52-week high of $175.25, with a market capitalization of $40.53 billion and a PE ratio of 74.82.
• Analysts have increased their price targets for Live Nation, with Citigroup setting the highest target at $195.00 and a consensus rating of "Buy" among eighteen analysts.
• The company reported quarterly earnings of $0.41 per share, missing expectations but achieving revenue of $7.01 billion, surpassing estimates of $6.93 billion.

Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $175.25 and last traded at $173.71, with a volume of 1537901 shares trading hands. The stock had previously closed at $173.73.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LYV. Wolfe Research boosted their target price on shares of 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 target price on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Moffett Nathanson began coverage on shares of Live Nation Entertainment in a research report on Monday, August 18th. They issued a "buy" rating and a $195.00 target price for the company. Oppenheimer boosted their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Finally, Benchmark boosted their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Eighteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.68.

Live Nation Entertainment Stock Performance

The firm has a market cap of $38.38 billion, a price-to-earnings ratio of 70.86, a P/E/G ratio of 11.11 and a beta of 1.42. The stock has a 50 day moving average of $159.36 and a 200 day moving average of $143.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. acquired a new position in Live Nation Entertainment during the first quarter worth about $1,153,000. Praxis Investment Management Inc. raised its stake in Live Nation Entertainment by 45.2% during the first quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock worth $726,000 after acquiring an additional 1,730 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Live Nation Entertainment during the first quarter worth about $272,000. Teacher Retirement System of Texas acquired a new position in Live Nation Entertainment during the first quarter worth about $3,081,000. Finally, Personal CFO Solutions LLC acquired a new position in Live Nation Entertainment during the first quarter worth about $277,000. Institutional investors and hedge funds own 74.52% of the company's stock.

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.