Evercore ISI Forecasts Strong Price Appreciation for Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment (NYSE:LYV) had its price objective raised by analysts at Evercore ISI from $110.00 to $150.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target points to a potential upside of 16.72% from the stock’s current price.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Bank of America started coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective for the company. Oppenheimer lifted their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Roth Mkm raised their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Rosenblatt Securities restated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $127.83.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $128.51 on Tuesday. The firm’s 50 day simple moving average is $110.04 and its two-hundred day simple moving average is $99.68. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $29.60 billion, a P/E ratio of 124.25, a P/E/G ratio of 3.03 and a beta of 1.33. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $130.76.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same period last year, the firm posted $1.78 EPS. The company’s revenue was down 6.2% on a year-over-year basis. Research analysts expect that Live Nation Entertainment will post 1.16 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,000 shares of company stock worth $17,238,181. Company insiders own 2.72% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares during the period. UMB Bank n.a. increased its position in shares of Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after buying an additional 176 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $41,000. Family Firm Inc. acquired a new stake in Live Nation Entertainment in the 2nd quarter valued at $42,000. Finally, Cromwell Holdings LLC raised its position in Live Nation Entertainment by 25.7% during the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds 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.