Live Nation Entertainment (NYSE:LYV) Sets New 12-Month High – What’s Next?

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price hit a new 52-week high on Monday . The company traded as high as $145.33 and last traded at $142.44, with a volume of 1997705 shares. The stock had previously closed at $144.06.

Analyst Upgrades and Downgrades

LYV has been the subject of several research reports. Guggenheim increased their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Citigroup increased their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Stock Performance

The company’s fifty day simple moving average is $135.53 and its 200 day simple moving average is $117.45. The stock has a market capitalization of $34.41 billion, a P/E ratio of 157.56, a P/E/G ratio of 1.67 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at $31,000. Golden State Wealth Management LLC purchased a new stake in Live Nation Entertainment during the fourth quarter valued at about $42,000. Retirement Wealth Solutions LLC purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth about $44,000. Independence Bank of Kentucky bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at about $45,000. Finally, Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at about $41,000. Institutional investors own 74.52% of the company’s stock.

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.