Live Nation Entertainment (NYSE:LYV) Rating Increased to Hold at Zacks Research

Live Nation Entertainment (NYSE:LYV) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also commented on the company. Citigroup raised their price target on Live Nation Entertainment from $181.00 to $212.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 31st. Citizens Jmp boosted their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 22nd. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, August 3rd. Finally, Benchmark increased their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.19.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $180.09 on Monday. Live Nation Entertainment has a 12-month low of $125.34 and a 12-month high of $189.24. The company has a market cap of $42.43 billion, a PE ratio of -159.37 and a beta of 1.12. The stock has a 50 day simple moving average of $179.49 and a 200-day simple moving average of $165.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The firm had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Live Nation Entertainment will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Leonteq Securities AG acquired a new stake in Live Nation Entertainment in the 4th quarter valued at about $25,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $26,000. Burkett Financial Services LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $26,000. Kilter Group LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $27,000. Finally, Meeder Asset Management Inc. acquired a new stake in Live Nation Entertainment during the second quarter valued at approximately $27,000. 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.