Rosenblatt Securities Increases Live Nation Entertainment (NYSE:LYV) Price Target to $122.00

Live Nation Entertainment (NYSE:LYV) had its price target upped by investment analysts at Rosenblatt Securities from $119.00 to $122.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective points to a potential upside of 28.88% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Live Nation Entertainment in a research report on Tuesday, April 30th. They set a “buy” rating and a $120.00 target price for the company. Roth Capital upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. TD Cowen reiterated a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Finally, Morgan Stanley increased their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $116.91.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $94.66 on Friday. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average price of $98.60 and a 200 day moving average price of $91.67. Live Nation Entertainment has a fifty-two week low of $66.38 and a fifty-two week high of $107.24. The firm has a market cap of $21.85 billion, a price-to-earnings ratio of 90.15, a P/E/G ratio of 1.79 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 85.50% and a net margin of 2.22%. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company posted ($0.25) EPS. Live Nation Entertainment’s revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts expect that Live Nation Entertainment will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the transaction, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Czech National Bank increased its position in Live Nation Entertainment by 0.5% during the 1st quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after purchasing an additional 115 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Live Nation Entertainment by 0.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company’s stock worth $2,324,000 after buying an additional 117 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after buying an additional 119 shares during the period. Hohimer Wealth Management LLC boosted its position in Live Nation Entertainment by 1.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock valued at $956,000 after acquiring an additional 123 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Live Nation Entertainment by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company’s stock worth $1,100,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.