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

Live Nation Entertainment (NYSE:LYV) had its price objective upped by equities researchers at Bank of America from $125.00 to $149.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 15.50% from the company’s previous close.

LYV has been the subject of several other reports. Macquarie boosted their price objective on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Guggenheim upped their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Evercore ISI lifted their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. 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 stock. According to data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $129.00 on Thursday. The company has a market capitalization of $29.97 billion, a price-to-earnings ratio of 137.23, a PEG ratio of 3.27 and a beta of 1.33. The company has a 50-day moving average of $112.78 and a 200-day moving average of $100.62. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $130.83. The company has a debt-to-equity ratio of 6.10, a quick ratio of 0.92 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the previous year, the business earned $1.78 EPS. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Live Nation Entertainment will post 1.11 earnings per share for the current fiscal year.

Insider Activity

In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the transaction, the director now directly owns 15,128 shares of the company’s stock, valued at $1,460,759.68. The trade was a 10.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This trade represents a 28.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 175,500 shares of company stock worth $17,097,016 over the last three months. 2.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LYV. Brooklyn Investment Group acquired a new stake in Live Nation Entertainment in the third quarter worth $31,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. UMB Bank n.a. lifted its stake in 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 last quarter. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment in the 3rd quarter worth about $41,000. Finally, Family Firm Inc. acquired a new position in Live Nation Entertainment during the second quarter valued at $42,000. 74.52% of the stock is owned by institutional investors and hedge funds.

About Live Nation Entertainment

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.