Live Nation Entertainment, Inc. (NYSE:LYV) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been given an average rating of “Moderate Buy” by the seventeen brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $145.40.

A number of research firms recently commented on LYV. Citigroup upped their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Benchmark increased their price target on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. TD Cowen upped their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Guggenheim increased their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $129.49 on Wednesday. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day moving average price is $131.20 and its 200 day moving average price is $110.84. The company has a market cap of $30.09 billion, a price-to-earnings ratio of 137.76, a PEG ratio of 3.68 and a beta of 1.37. Live Nation Entertainment has a one year low of $86.67 and a one year high of $141.18.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. On average, research analysts predict that Live Nation Entertainment will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $31,000. World Investment Advisors LLC acquired a new position in Live Nation Entertainment during the third quarter worth approximately $38,000. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment during the third quarter worth approximately $41,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $42,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $46,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Company Profile

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.