Live Nation Entertainment (NYSE:LYV) Hits New 12-Month High – Here’s What Happened

Live Nation Entertainment, Inc. (NYSE:LYV) shares hit a new 52-week high on Monday . The stock traded as high as $145.33 and last traded at $142.44, with a volume of 1997705 shares changing hands. The stock had previously closed at $144.06.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Evercore ISI upped their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Roth Mkm boosted their target price on Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Citigroup raised their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Guggenheim upped their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.40.

Live Nation Entertainment Trading Up 1.6 %

The stock has a 50-day moving average of $135.53 and a two-hundred day moving average of $117.45. The company has a market cap of $34.41 billion, a P/E ratio of 157.56, a price-to-earnings-growth ratio of 1.67 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

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, topping analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 EPS. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current year.

Institutional Trading of Live Nation Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment during the third quarter valued at $31,000. World Investment Advisors LLC bought a new position in Live Nation Entertainment during the 3rd quarter valued at about $38,000. Reston Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $41,000. Morse Asset Management Inc bought a new stake in shares of Live Nation Entertainment in the third quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $42,000. 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.