Live Nation Entertainment, Inc. (NYSE:LYV) Receives $173.00 Average Price Target from Brokerages

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and nineteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $173.00.

Several research firms have weighed in on LYV. JPMorgan Chase & Co. cut their price objective on Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Morgan Stanley reduced their target price on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Susquehanna increased their target price on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Finally, Roth Capital reduced their target price on shares of Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating for the company in a report on Wednesday, November 5th.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $141.19 on Wednesday. Live Nation Entertainment has a 52-week low of $112.88 and a 52-week high of $175.25. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $33.14 billion, a price-to-earnings ratio of 102.31 and a beta of 1.22. The stock has a fifty day moving average of $141.67 and a 200 day moving average of $150.57.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same period in the prior year, the company earned $1.66 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, research analysts expect that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LYV. Horizon Investments LLC increased its stake in shares of Live Nation Entertainment by 5.1% in the first quarter. Horizon Investments LLC now owns 2,251 shares of the company’s stock worth $294,000 after purchasing an additional 110 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Live Nation Entertainment by 8.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,067,785 shares of the company’s stock valued at $139,332,000 after acquiring an additional 83,182 shares in the last quarter. Aberdeen Group plc boosted its stake in shares of Live Nation Entertainment by 114.6% in the first quarter. Aberdeen Group plc now owns 90,001 shares of the company’s stock worth $11,716,000 after acquiring an additional 48,062 shares during the period. Versor Investments LP purchased a new stake in shares of Live Nation Entertainment during the first quarter worth about $360,000. Finally, Brooklyn Investment Group raised its stake in Live Nation Entertainment by 95.3% during the 1st quarter. Brooklyn Investment Group now owns 617 shares of the company’s stock valued at $81,000 after purchasing an additional 301 shares during the period. 74.52% of the stock is currently owned by institutional investors.

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.