Weiss Ratings Reaffirms “Hold (C)” Rating for Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment (NYSE:LYV)‘s stock had its “hold (c)” rating reiterated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

LYV has been the topic of a number of other reports. Guggenheim restated a “buy” rating and set a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the company a “positive” rating in a research note on Tuesday, June 10th. Wolfe Research upped their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, June 10th. Rothschild & Co Redburn cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and upped their price target for the company from $144.00 to $170.00 in a research note on Tuesday, September 16th. Finally, Moffett Nathanson started coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They set a “buy” rating and a $195.00 price target on the stock. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.42.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $150.02 on Wednesday. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $35.18 billion, a PE ratio of 64.94, a PEG ratio of 10.56 and a beta of 1.40. Live Nation Entertainment has a 1 year low of $111.28 and a 1 year high of $175.25. The stock’s fifty day moving average price is $161.68 and its two-hundred day moving average price is $147.18.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. On average, equities research analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently made changes to their positions in LYV. Nuveen LLC bought a new position in shares of Live Nation Entertainment in the 1st quarter worth $201,501,000. Norges Bank bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at $198,336,000. Independent Franchise Partners LLP grew its holdings in shares of Live Nation Entertainment by 21.4% during the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock valued at $744,118,000 after purchasing an additional 1,004,574 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Live Nation Entertainment by 46.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company’s stock valued at $366,195,000 after purchasing an additional 884,745 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Live Nation Entertainment during the 2nd quarter valued at $128,704,000. Institutional investors own 74.52% of the company’s stock.

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.