Live Nation Entertainment Inc. (LYV) Coverage Initiated by Analysts at Stephens
Stephens began coverage on shares of Live Nation Entertainment Inc. (NYSE:LYV) in a research report report published on Thursday. The brokerage issued an equal weight rating on the stock. The analysts noted that the move was a valuation call.
LYV has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Live Nation Entertainment from a strong sell rating to a hold rating in a research note on Saturday, June 11th. Jefferies Group restated a buy rating and set a $31.00 price objective on shares of Live Nation Entertainment in a research note on Friday, July 29th. JPMorgan Chase & Co. started coverage on shares of Live Nation Entertainment in a research note on Thursday, August 18th. They set an overweight rating and a $34.00 price objective for the company. Finally, Albert Fried & Company reaffirmed a buy rating and issued a $34.00 target price on shares of Live Nation Entertainment in a report on Tuesday, July 26th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $31.17.
Live Nation Entertainment (NYSE:LYV) traded down 0.68% during midday trading on Thursday, reaching $27.66. The company had a trading volume of 227,554 shares. The firm’s market capitalization is $5.59 billion. Live Nation Entertainment has a one year low of $18.77 and a one year high of $29.68. The stock’s 50 day moving average price is $26.88 and its 200-day moving average price is $24.45.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.05. Live Nation Entertainment had a net margin of 0.05% and a return on equity of 0.27%. The company earned $2.20 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business posted $0.06 EPS. The company’s quarterly revenue was up 23.4% on a year-over-year basis. On average, equities research analysts anticipate that Live Nation Entertainment will post ($0.10) earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Sentry Investments Corp. raised its position in shares of Live Nation Entertainment by 299.7% in the second quarter. Sentry Investments Corp. now owns 4,444,900 shares of the company’s stock valued at $104,455,000 after buying an additional 3,332,900 shares during the last quarter. Norges Bank acquired a new position in shares of Live Nation Entertainment during the fourth quarter valued at about $35,243,000. Lord Abbett & CO. LLC acquired a new position in shares of Live Nation Entertainment during the second quarter valued at about $22,202,000. Renaissance Technologies LLC raised its position in shares of Live Nation Entertainment by 41.0% in the first quarter. Renaissance Technologies LLC now owns 2,725,166 shares of the company’s stock valued at $60,798,000 after buying an additional 792,000 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Live Nation Entertainment by 337.4% in the second quarter. Victory Capital Management Inc. now owns 782,566 shares of the company’s stock valued at $18,389,000 after buying an additional 603,664 shares during the last quarter. Institutional investors own 64.04% of the company’s stock.
About Live Nation Entertainment
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising, and artist management. Its segments include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate.
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