Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price objective hoisted by stock analysts at Bank of America from $149.00 to $175.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's price target points to a potential upside of 24.14% from the company's current price.
A number of other brokerages have also recently commented on LYV. StockNews.com upgraded Live Nation Entertainment from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. The Goldman Sachs Group upped their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Citigroup lifted their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Finally, Rosenblatt Securities restated a "buy" rating and set a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and a consensus price target of $156.00.
Check Out Our Latest Analysis on LYV
Live Nation Entertainment Price Performance
Shares of NYSE:LYV traded down $1.19 during midday trading on Monday, hitting $140.97. 2,989,587 shares of the stock were exchanged, compared to its average volume of 2,162,197. Live Nation Entertainment has a twelve month low of $86.81 and a twelve month high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a 50 day moving average price of $140.05 and a 200-day moving average price of $123.81. The stock has a market cap of $32.76 billion, a P/E ratio of 51.83, a PEG ratio of 1.81 and a beta of 1.38.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, research analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current year.
Insider Activity at Live Nation Entertainment
In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares of the company's stock, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.72% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Live Nation Entertainment
Several institutional investors and hedge funds have recently made changes to their positions in the company. Measured Risk Portfolios Inc. bought a new stake in Live Nation Entertainment during the fourth quarter valued at $29,000. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $31,000. World Investment Advisors LLC acquired a new stake in Live Nation Entertainment during the third quarter worth about $38,000. Murphy & Mullick Capital Management Corp bought a new position in Live Nation Entertainment in the fourth quarter worth about $40,000. Finally, Reston Wealth Management LLC acquired a new position in Live Nation Entertainment in the third quarter valued at approximately $41,000. 74.52% of the stock is owned by institutional investors and hedge funds.
Live Nation Entertainment Company Profile
(
Get Free Report)
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.
See Also
Before you consider Live Nation Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Live Nation Entertainment wasn't on the list.
While Live Nation Entertainment currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
