Live Nation Entertainment, Inc. (NYSE:LYV) Stock Has Consensus Price Target of $197.90 According to Analysts

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have received an average rating of “Moderate Buy” from the twenty-five analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and twenty have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $203.14.

LYV has been the subject of several recent research reports. Oppenheimer lifted their target price on shares of Live Nation Entertainment from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday. Citigroup restated a “market outperform” rating on shares of Live Nation Entertainment in a research note on Thursday, October 1st. JPMorgan Chase & Co. cut their price objective on shares of Live Nation Entertainment from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, November 6th. Guggenheim lifted their price objective on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $220.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, October 13th.

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the transaction, the chief accounting officer directly owned 8,655 shares in the company, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.89% of the stock is owned by insiders.

Institutional Trading of Live Nation Entertainment

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in Live Nation Entertainment in the second quarter valued at approximately $1,221,398,000. Canada Pension Plan Investment Board purchased a new position in Live Nation Entertainment in the 2nd quarter worth approximately $859,018,000. Findlay Park Partners LLP bought a new position in shares of Live Nation Entertainment in the 2nd quarter worth $195,781,000. OMERS ADMINISTRATION Corp increased its holdings in shares of Live Nation Entertainment by 5,799.1% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 900,794 shares of the company’s stock worth $137,380,000 after buying an additional 885,524 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $140,911,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

LYV opened at $180.32 on Friday. Live Nation Entertainment has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The firm has a 50-day moving average of $172.78 and a 200 day moving average of $167.96. The company has a debt-to-equity ratio of 6.64, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $42.50 billion, a P/E ratio of -1,060.74 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, November 5th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Live Nation Entertainment had a net margin of 0.38% and a return on equity of 55.62%. The business had revenue of $10.11 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, research analysts expect that Live Nation Entertainment will post 1.02 EPS for the current year.

About Live Nation Entertainment

Live Nation Entertainment, Inc. is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events. The company’s businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.