Live Nation Entertainment, Inc. (LYV) Earns “Buy” Rating from J P Morgan Chase & Co
Live Nation Entertainment, Inc. (NYSE:LYV)‘s stock had its “buy” rating reissued by equities research analysts at J P Morgan Chase & Co in a research note issued on Wednesday.
Other equities research analysts also recently issued research reports about the stock. Jefferies Group LLC upped their target price on shares of Live Nation Entertainment from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, June 27th. BidaskClub downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, October 10th. William Blair assumed coverage on shares of Live Nation Entertainment in a research report on Friday, July 21st. They set an “outperform” rating for the company. Finally, Stephens reissued an “overweight” rating and set a $44.00 price objective (up previously from $36.00) on shares of Live Nation Entertainment in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Live Nation Entertainment has a consensus rating of “Buy” and a consensus price target of $40.86.
Live Nation Entertainment (NYSE LYV) traded up 3.200% on Wednesday, reaching $42.735. 1,986,509 shares of the company’s stock traded hands. Live Nation Entertainment has a 52-week low of $26.41 and a 52-week high of $43.86. The firm’s 50 day moving average price is $41.88 and its 200 day moving average price is $36.56. The firm has a market capitalization of $8.76 billion, a PE ratio of 6105.000 and a beta of 1.03.
Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was up 29.3% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment will post $0.22 EPS for the current fiscal year.
In other news, Director Ariel Emanuel sold 10,000 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $41.56, for a total transaction of $415,600.00. Following the completion of the sale, the director now owns 85,737 shares of the company’s stock, valued at $3,563,229.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Capo sold 7,500 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $40.50, for a total transaction of $303,750.00. Following the sale, the insider now directly owns 13,354 shares of the company’s stock, valued at approximately $540,837. The disclosure for this sale can be found here. 4.77% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Live Nation Entertainment by 4.3% during the second quarter. Vanguard Group Inc. now owns 10,866,455 shares of the company’s stock worth $378,695,000 after acquiring an additional 451,457 shares in the last quarter. Principal Financial Group Inc. grew its position in Live Nation Entertainment by 2.4% in the second quarter. Principal Financial Group Inc. now owns 5,200,396 shares of the company’s stock valued at $181,234,000 after purchasing an additional 120,428 shares in the last quarter. State Street Corp grew its position in Live Nation Entertainment by 2.8% in the second quarter. State Street Corp now owns 3,497,318 shares of the company’s stock valued at $121,878,000 after purchasing an additional 95,764 shares in the last quarter. William Blair Investment Management LLC bought a new position in Live Nation Entertainment in the second quarter valued at $109,693,000. Finally, Northern Trust Corp grew its position in Live Nation Entertainment by 2.9% in the second quarter. Northern Trust Corp now owns 1,699,291 shares of the company’s stock valued at $59,221,000 after purchasing an additional 47,743 shares in the last quarter. 65.65% of the stock is owned by institutional investors.
Live Nation Entertainment Company Profile
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. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
Receive News & Stock Ratings for Live Nation Entertainment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment Inc. and related stocks with our FREE daily email newsletter.