Live Nation Entertainment, Inc. (NYSE:LYV) Receives Consensus Rating of “Buy” from Brokerages

Live Nation Entertainment, Inc. (NYSE:LYV) has been assigned a consensus rating of “Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have covered the stock in the last year is $116.30.

A number of research firms have recently issued reports on LYV. Roth Mkm reissued a “buy” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Rosenblatt Securities cut their price objective on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Oppenheimer raised their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st.

Live Nation Entertainment Price Performance

LYV stock opened at $88.49 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. Live Nation Entertainment has a one year low of $64.96 and a one year high of $107.24. The firm has a market capitalization of $20.42 billion, a PE ratio of 66.53 and a beta of 1.30. The firm has a 50-day moving average of $98.94 and a two-hundred day moving average of $91.50.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. On average, analysts forecast that Live Nation Entertainment will post 1.63 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LYV. Norges Bank bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at $248,139,000. Cantillon Capital Management LLC lifted its position in Live Nation Entertainment by 146.6% during the 4th quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock worth $257,101,000 after buying an additional 1,632,749 shares in the last quarter. Findlay Park Partners LLP lifted its position in Live Nation Entertainment by 55.1% during the 3rd quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock worth $254,060,000 after buying an additional 1,087,264 shares in the last quarter. Jericho Capital Asset Management L.P. lifted its position in Live Nation Entertainment by 52.8% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock worth $174,384,000 after buying an additional 726,000 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Live Nation Entertainment by 104.2% during the 4th quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock worth $112,268,000 after buying an additional 606,743 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

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.