Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, Susquehanna Analyst Says

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by equities researchers at Susquehanna from $186.00 to $187.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s price target would indicate a potential upside of 2.02% from the stock’s previous close.

LYV has been the topic of several other reports. Citizens Jmp raised their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft upped their target price on Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their price target on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, Rothschild & Co Redburn upped their price objective on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.71.

Live Nation Entertainment Trading Down 0.6%

NYSE:LYV opened at $183.29 on Friday. The company has a market capitalization of $43.17 billion, a PE ratio of -103.55 and a beta of 1.11. Live Nation Entertainment has a 52-week low of $125.34 and a 52-week high of $188.00. The stock has a fifty day simple moving average of $174.83 and a 200-day simple moving average of $162.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that Live Nation Entertainment will post 0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.89% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in Live Nation Entertainment by 70.0% in the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock valued at $262,733,000 after acquiring an additional 759,363 shares during the period. Geode Capital Management LLC increased its stake in shares of Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after purchasing an additional 20,165 shares during the period. CenterBook Partners LP grew its holdings in Live Nation Entertainment by 780.1% in the 4th quarter. CenterBook Partners LP now owns 22,143 shares of the company’s stock worth $3,155,000 after buying an additional 19,627 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Live Nation Entertainment by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after acquiring an additional 123,800 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Live Nation Entertainment by 45.0% during the fourth quarter. ProShare Advisors LLC now owns 41,642 shares of the company’s stock valued at $5,934,000 after purchasing an additional 12,916 shares during the period. 74.52% of the stock is currently owned by institutional investors.

Key Headlines Impacting Live Nation Entertainment

Here are the key news stories impacting Live Nation Entertainment this week:

• Positive Sentiment: Live Nation reported quarterly revenue of $7.67 billion, up 9.4% year over year and ahead of the approximately $7.56 billion consensus estimate. Concert revenue, the company’s largest segment, rose 8%, helped by strong international demand. Live Nation Revenue Rises, Boosted by International Demand for Concerts
• Positive Sentiment: Adjusted earnings came in at $1.05 per share, well above analysts’ estimates ranging from $0.59 to $0.66 and up from $0.41 a year earlier. The earnings beat reinforces the company’s operating momentum and provides a positive catalyst for LYV. Live Nation Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management said fan growth reached records and described concert ticket sales as the strongest in company history. Raised expectations for the remainder of the year suggest continued demand across concerts, Ticketmaster and sponsorships. Earnings Call Highlights
• Neutral Sentiment: The upbeat results may have been partly anticipated: LYV recently traded near its 12-month high, so investors could focus on how much additional growth is reflected in the valuation rather than the headline earnings beat.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.