Rosenblatt Securities Increases Live Nation Entertainment (NYSE:LYV) Price Target to $123.00

Live Nation Entertainment (NYSE:LYV) had its price objective increased by Rosenblatt Securities from $122.00 to $123.00 in a research report released on Wednesday. They currently have a buy rating on the stock.

LYV has been the subject of several other research reports. JPMorgan Chase & Co. cut their target price on Live Nation Entertainment from $126.00 to $116.00 and set an overweight rating for the company in a research note on Wednesday, May 29th. TD Cowen reaffirmed a buy rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Redburn Atlantic upgraded shares of Live Nation Entertainment from a neutral rating to a buy rating and increased their target price for the stock from $114.00 to $115.00 in a research note on Thursday, May 9th. Oppenheimer restated an outperform rating and set a $110.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. Finally, Northcoast Research lowered Live Nation Entertainment from a buy rating to a neutral rating in a research note on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of Moderate Buy and an average price target of $118.17.

Live Nation Entertainment Price Performance

LYV opened at $91.21 on Wednesday. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 86.87, a PEG ratio of 2.18 and a beta of 1.34. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a 50-day moving average price of $93.46 and a 200-day moving average price of $94.98. Live Nation Entertainment has a twelve month low of $76.48 and a twelve month high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the firm earned $1.02 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment will post 1.21 EPS for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently added to or reduced their stakes in LYV. YHB Investment Advisors Inc. bought a new position in shares of Live Nation Entertainment during the first quarter valued at about $32,000. Migdal Insurance & Financial Holdings Ltd. grew its position in Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the last quarter. Rise Advisors LLC increased its stake in Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares during the period. Lindbrook Capital LLC lifted its position in Live Nation Entertainment by 44.1% in the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after purchasing an additional 119 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the period. Hedge funds and other 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.