Live Nation Entertainment (NYSE:LYV) had its price objective increased by JPMorgan Chase & Co. from $53.00 to $60.00 in a research note published on Friday. JPMorgan Chase & Co. currently has an overweight rating on the stock.
LYV has been the topic of several other reports. Jefferies Financial Group lifted their price objective on shares of Live Nation Entertainment from $52.00 to $60.00 and gave the company a buy rating in a report on Friday, July 27th. Northcoast Research lowered shares of Live Nation Entertainment from a buy rating to a neutral rating in a report on Tuesday, July 17th. ValuEngine lowered shares of Live Nation Entertainment from a strong-buy rating to a buy rating in a report on Saturday, July 28th. Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $50.00 to $56.00 and gave the company a buy rating in a report on Tuesday, July 24th. Finally, Guggenheim reissued a buy rating and set a $55.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $56.79.
Shares of NYSE:LYV traded down $0.73 during trading on Friday, reaching $54.12. 22,062 shares of the company were exchanged, compared to its average volume of 1,234,208. The firm has a market cap of $11.47 billion, a PE ratio of -113.17 and a beta of 0.99. Live Nation Entertainment has a 12-month low of $35.94 and a 12-month high of $58.26. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.08 and a current ratio of 1.08.
Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, November 1st. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.72 billion. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. Equities research analysts predict that Live Nation Entertainment will post 0.01 EPS for the current fiscal year.
In other news, Director Robert Ted Enloe III sold 7,000 shares of Live Nation Entertainment stock in a transaction on Friday, September 14th. The shares were sold at an average price of $54.07, for a total transaction of $378,490.00. Following the completion of the sale, the director now directly owns 17,508 shares in the company, valued at $946,657.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of Live Nation Entertainment stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $49.44, for a total transaction of $988,800.00. Following the sale, the chief financial officer now owns 299,338 shares of the company’s stock, valued at $14,799,270.72. The disclosure for this sale can be found here. Insiders sold 247,000 shares of company stock worth $12,186,490 over the last ninety days. Corporate insiders own 5.19% of the company’s stock.
Several large investors have recently bought and sold shares of LYV. Select Equity Group L.P. acquired a new stake in shares of Live Nation Entertainment during the second quarter worth $216,729,000. Canada Pension Plan Investment Board lifted its position in Live Nation Entertainment by 27.5% during the second quarter. Canada Pension Plan Investment Board now owns 9,709,300 shares of the company’s stock valued at $471,581,000 after purchasing an additional 2,096,500 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its position in Live Nation Entertainment by 71.9% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 739,054 shares of the company’s stock valued at $35,896,000 after purchasing an additional 309,097 shares during the period. CIBC Private Wealth Group LLC lifted its position in Live Nation Entertainment by 64.7% during the second quarter. CIBC Private Wealth Group LLC now owns 670,765 shares of the company’s stock valued at $32,580,000 after purchasing an additional 263,463 shares during the period. Finally, Engineers Gate Manager LP lifted its position in Live Nation Entertainment by 395.4% during the third quarter. Engineers Gate Manager LP now owns 173,934 shares of the company’s stock valued at $9,474,000 after purchasing an additional 138,825 shares during the period. Institutional investors and hedge funds own 69.56% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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