Live Nation Entertainment, Inc. (NYSE:LYV) Receives Average Recommendation of “Buy” from Analysts

Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) has been assigned an average rating of “Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $127.44.

LYV has been the topic of several research reports. Morgan Stanley raised their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, February 25th. Benchmark initiated coverage on Live Nation Entertainment in a research report on Monday, April 25th. They issued a “buy” rating and a $135.00 target price on the stock. William Blair restated an “outperform” rating on shares of Live Nation Entertainment in a research report on Friday, April 8th. Rosenblatt Securities initiated coverage on Live Nation Entertainment in a research report on Monday, April 25th. They issued a “buy” rating and a $138.00 target price on the stock. Finally, Zacks Investment Research upgraded Live Nation Entertainment from a “hold” rating to a “strong-buy” rating and set a $144.00 target price on the stock in a research report on Friday, February 25th.

Shares of LYV stock opened at $92.89 on Friday. The company has a market capitalization of $21.18 billion, a P/E ratio of -45.09 and a beta of 1.29. The business’s 50 day moving average is $103.95 and its two-hundred day moving average is $109.81. Live Nation Entertainment has a 12-month low of $74.23 and a 12-month high of $127.75.

Live Nation Entertainment (NYSE:LYVGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.59. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.88 billion. The business’s revenue for the quarter was up 520.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.44) EPS. Equities research analysts anticipate that Live Nation Entertainment will post 0.83 EPS for the current year.

In other Live Nation Entertainment news, EVP John Hopmans sold 36,198 shares of the firm’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $123.60, for a total transaction of $4,474,072.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Rapino sold 78,000 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $112.07, for a total value of $8,741,460.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,208,098 shares of company stock valued at $132,814,202. Insiders own 5.48% of the company’s stock.

A number of hedge funds have recently bought and sold shares of LYV. Select Equity Group L.P. grew its stake in shares of Live Nation Entertainment by 132.6% in the fourth quarter. Select Equity Group L.P. now owns 6,224,219 shares of the company’s stock valued at $744,977,000 after buying an additional 3,547,743 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Live Nation Entertainment by 96.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,698,063 shares of the company’s stock valued at $435,041,000 after buying an additional 1,819,841 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Live Nation Entertainment by 208.0% in the fourth quarter. Victory Capital Management Inc. now owns 2,643,888 shares of the company’s stock valued at $316,447,000 after buying an additional 1,785,500 shares in the last quarter. Wellington Management Group LLP purchased a new position in Live Nation Entertainment in the third quarter valued at $83,966,000. Finally, Norges Bank purchased a new position in Live Nation Entertainment in the fourth quarter valued at $108,086,000. 73.10% of the stock is owned by institutional investors.

Live Nation Entertainment Company Profile (Get Rating)

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.

Recommended Stories

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

Want More Great Investing Ideas?

Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.