Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, Guggenheim Analyst Says

Live Nation Entertainment (NYSE:LYV) had its target price lifted by Guggenheim from $130.00 to $146.00 in a research note published on Tuesday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other research firms have also commented on LYV. Bank of America began coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target for the company. Macquarie raised their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Roth Mkm raised their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Benchmark raised their target price on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.43.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $129.21 on Tuesday. The firm has a market capitalization of $30.02 billion, a price-to-earnings ratio of 137.46, a price-to-earnings-growth ratio of 3.27 and a beta of 1.33. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a fifty day moving average of $112.06 and a 200-day moving average of $100.35. Live Nation Entertainment has a 12-month low of $81.38 and a 12-month high of $130.76.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter last year, the firm posted $1.78 EPS. The company’s quarterly revenue was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Live Nation Entertainment will post 1.11 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The trade was a 28.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total transaction of $164,248.56. Following the sale, the director now owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. The trade was a 10.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 175,500 shares of company stock worth $17,097,016 in the last 90 days. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. lifted 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 period. UMB Bank n.a. lifted its holdings 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 worth $41,000 after purchasing an additional 176 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter worth $41,000. Finally, Family Firm Inc. purchased a new stake in shares of Live Nation Entertainment in the second quarter valued at about $42,000. 74.52% of the stock is owned by institutional investors and hedge funds.

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.