Wall Street Zen Upgrades Live Nation Entertainment (NYSE:LYV) to "Hold"

Key Points

• Wall Street Zen upgraded Live Nation Entertainment from a "sell" to a "hold" in a research note issued on Saturday.
• Most analysts remain bullish—21 rate the stock a Buy, two Hold and one Sell—giving a consensus of "Moderate Buy" with an average price target of $185.19.
• In the latest quarter Live Nation missed EPS (−$1.06 vs. −$1.00) but beat revenue expectations with $6.31 billion, up 11.1% year-over-year.

Live Nation Entertainment (NYSE:LYV - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Other analysts have also issued research reports about the company. Oppenheimer reissued an "outperform" rating and issued a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Deutsche Bank Aktiengesellschaft increased their price objective on Live Nation Entertainment from $160.00 to $180.00 and gave the company a "buy" rating in a research note on Monday, February 23rd. Benchmark reaffirmed a "buy" rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. Wells Fargo & Company decreased their price objective on Live Nation Entertainment from $204.00 to $203.00 and set an "overweight" rating on the stock in a research note on Thursday, April 2nd. Finally, Moffett Nathanson decreased their price objective on Live Nation Entertainment from $185.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, January 22nd. Twenty-one investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $185.19.

Live Nation Entertainment Stock Down 1.8%

Live Nation Entertainment stock opened at $160.73 on Friday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $37.74 billion, a price-to-earnings ratio of -669.71 and a beta of 1.15. Live Nation Entertainment has a fifty-two week low of $122.08 and a fifty-two week high of $175.25. The stock's fifty day moving average is $155.24 and its two-hundred day moving average is $148.68.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its 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 firm 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 firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company posted $0.58 EPS. Analysts predict that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In related 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 sale, the director owned 48,030 shares of the company's stock, valued at $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.01% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Large investors have recently modified their holdings of the company. Ameriflex Group Inc. raised its holdings in shares of Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock worth $27,000 after purchasing an additional 84 shares during the period. Leonteq Securities AG acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $25,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at about $33,000. Finally, Heartwood Wealth Advisors LLC acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at about $34,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

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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