Live Nation Entertainment (NYSE:LYV) Price Target Raised to $121.00

Live Nation Entertainment (NYSE:LYV) had its price objective upped by Deutsche Bank Aktiengesellschaft from $120.00 to $121.00 in a research report released on Monday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

A number of other brokerages have also commented on LYV. Roth Mkm reiterated a buy rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Morgan Stanley lifted their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. TD Cowen reissued a buy rating and set a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Finally, Roth Capital raised Live Nation Entertainment from a neutral rating to a buy rating in a report on Thursday, January 11th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $117.00.

Live Nation Entertainment Price Performance

Shares of LYV opened at $95.80 on Monday. Live Nation Entertainment has a twelve month low of $76.48 and a twelve month high of $107.24. The company has a market capitalization of $22.17 billion, a P/E ratio of 91.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34. The firm has a 50 day moving average of $98.76 and a 200 day moving average of $92.04. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the firm earned ($0.25) EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Live Nation Entertainment will post 1.63 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now owns 59,374 shares of the company’s stock, valued at $5,967,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Live Nation Entertainment

Several institutional investors have recently made changes to their positions in the business. Czech National Bank lifted its holdings in Live Nation Entertainment by 0.5% in the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock worth $2,641,000 after purchasing an additional 115 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Live Nation Entertainment by 0.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company’s stock worth $2,324,000 after buying an additional 117 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after acquiring an additional 119 shares during the last quarter. Hohimer Wealth Management LLC grew its stake in Live Nation Entertainment by 1.1% during the third quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock valued at $956,000 after acquiring an additional 123 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Live Nation Entertainment by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company’s stock valued at $1,100,000 after acquiring an additional 130 shares during the last quarter. Hedge funds and other 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.