Shares of Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $121.10.
A number of equities research analysts recently issued reports on LYV shares. Citigroup raised their price target on Live Nation Entertainment from $93.00 to $100.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. Morgan Stanley decreased their price objective on Live Nation Entertainment from $115.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, June 2nd. TheStreet upgraded Live Nation Entertainment from a “d+” rating to a “c-” rating in a report on Wednesday, August 10th. Benchmark lifted their price objective on Live Nation Entertainment to $140.00 in a report on Monday, August 15th. Finally, Wolfe Research cut their target price on Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd.
In related news, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $99.42, for a total value of $49,710.00. Following the completion of the transaction, the director now owns 60,531 shares of the company’s stock, valued at approximately $6,017,992.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.01% of the company’s stock.
Institutional Inflows and Outflows
Live Nation Entertainment Stock Performance
LYV stock opened at $90.73 on Friday. The firm has a market cap of $20.87 billion, a PE ratio of -181.46 and a beta of 1.32. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 146.87. The business has a 50 day moving average of $91.38 and a 200-day moving average of $98.29. Live Nation Entertainment has a 12-month low of $79.50 and a 12-month high of $127.75.
Live Nation Entertainment (NYSE:LYV – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.13. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned ($0.90) earnings per share. Live Nation Entertainment’s revenue was up 669.9% on a year-over-year basis. As a group, sell-side analysts expect that Live Nation Entertainment will post 0.4 earnings per share for the current year.
About Live Nation Entertainment
Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.
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