Live Nation Entertainment, Inc. (NYSE:LYV) Given Average Rating of “Hold” by Analysts

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) have earned an average recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $75.86.

A number of analysts recently commented on the company. Cowen lifted their price objective on Live Nation Entertainment from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 26th. Zacks Investment Research cut Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, May 5th. Wolfe Research started coverage on Live Nation Entertainment in a report on Wednesday, May 19th. They set an “outperform” rating and a $97.00 target price on the stock. Morgan Stanley raised their target price on Live Nation Entertainment from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 5th. Finally, Jefferies Financial Group upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating and raised their target price for the stock from $88.00 to $96.00 in a report on Monday, May 10th.

Shares of NYSE:LYV opened at $87.01 on Friday. Live Nation Entertainment has a twelve month low of $42.21 and a twelve month high of $94.63. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of -10.12 and a beta of 1.38. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a fifty day simple moving average of $85.01.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, May 6th. The company reported ($1.44) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.66) by $0.22. The company had revenue of $290.60 million during the quarter, compared to analyst estimates of $287.45 million. Live Nation Entertainment had a negative return on equity of 1,833.44% and a negative net margin of 234.83%. The firm’s quarterly revenue was down 78.7% compared to the same quarter last year. During the same period last year, the company posted ($0.94) earnings per share. On average, analysts predict that Live Nation Entertainment will post -3.49 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. raised its position in Live Nation Entertainment by 409.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 6,080 shares of the company’s stock valued at $515,000 after buying an additional 4,886 shares during the last quarter. Sirios Capital Management L P acquired a new stake in Live Nation Entertainment in the 4th quarter valued at approximately $5,220,000. Public Employees Retirement System of Ohio raised its position in Live Nation Entertainment by 23.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 73,655 shares of the company’s stock valued at $5,412,000 after buying an additional 14,148 shares during the last quarter. DnB Asset Management AS raised its position in Live Nation Entertainment by 96.7% in the 1st quarter. DnB Asset Management AS now owns 37,570 shares of the company’s stock valued at $3,180,000 after buying an additional 18,471 shares during the last quarter. Finally, Xponance Inc. increased its position in shares of Live Nation Entertainment by 2.8% during the 4th quarter. Xponance Inc. now owns 20,958 shares of the company’s stock worth $1,540,000 after purchasing an additional 580 shares during the last quarter. 71.66% of the stock is currently owned by institutional investors and hedge funds.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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