Live Nation Entertainment (NYSE:LYV) Earns “Outperform” Rating from Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Live Nation Entertainment (NYSE:LYV) in a research report report published on Tuesday, Benzinga reports. Oppenheimer currently has a $110.00 price target on the stock.

LYV has been the subject of a number of other reports. TD Cowen reaffirmed a buy rating and issued a $108.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft increased their price target on Live Nation Entertainment from $120.00 to $121.00 and gave the company a buy rating in a research note on Monday, May 6th. Redburn Atlantic raised Live Nation Entertainment from a neutral rating to a buy rating and boosted their price objective for the stock from $114.00 to $115.00 in a research note on Thursday, May 9th. Rosenblatt Securities raised their target price on Live Nation Entertainment from $119.00 to $122.00 and gave the company a buy rating in a research note on Friday, May 3rd. Finally, Morgan Stanley reiterated an overweight rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $115.58.

Live Nation Entertainment Price Performance

NYSE LYV opened at $90.82 on Tuesday. The company has a 50-day moving average price of $92.94 and a two-hundred day moving average price of $94.29. The stock has a market cap of $20.87 billion, a price-to-earnings ratio of 86.50, a price-to-earnings-growth ratio of 1.84 and a beta of 1.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. Live Nation Entertainment has a 52 week low of $76.48 and a 52 week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted ($0.25) EPS. The company’s revenue was up 21.5% compared to the same quarter last year. Analysts forecast that Live Nation Entertainment will post 1.37 EPS for the current year.

Institutional Trading of Live Nation Entertainment

Large investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. acquired a new position in Live Nation Entertainment during the third quarter valued at $321,000. Mariner LLC lifted its position in shares of Live Nation Entertainment by 19.8% in the third quarter. Mariner LLC now owns 7,520 shares of the company’s stock worth $624,000 after purchasing an additional 1,243 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Live Nation Entertainment by 3.5% during the third quarter. Northern Trust Corp now owns 1,413,557 shares of the company’s stock worth $117,382,000 after purchasing an additional 47,300 shares during the period. Cary Street Partners Investment Advisory LLC increased its stake in Live Nation Entertainment by 9,800.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock valued at $41,000 after buying an additional 490 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $247,000. 74.52% of the stock is owned by institutional investors and hedge funds.

About Live Nation Entertainment

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.