Live Nation Entertainment’s (LYV) “Outperform” Rating Reaffirmed at Macquarie

Macquarie reaffirmed their outperform rating on shares of Live Nation Entertainment (NYSE:LYV) in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a $125.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on LYV. Roth Mkm reissued a buy rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Friday, May 24th. Oppenheimer reissued an outperform rating and issued a $110.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, June 25th. JPMorgan Chase & Co. cut their target price on Live Nation Entertainment from $126.00 to $116.00 and set an overweight rating on the stock in a research report on Wednesday, May 29th. Northcoast Research lowered Live Nation Entertainment from a buy rating to a neutral rating in a research report on Tuesday, May 28th. Finally, Rosenblatt Securities upped their target price on Live Nation Entertainment from $122.00 to $123.00 and gave the company a buy rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $118.08.

Live Nation Entertainment Price Performance

Shares of LYV opened at $96.17 on Wednesday. Live Nation Entertainment has a 12-month low of $76.48 and a 12-month high of $107.24. The business has a 50-day simple moving average of $93.57 and a two-hundred day simple moving average of $94.96. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The stock has a market cap of $22.09 billion, a PE ratio of 91.59, a PEG ratio of 2.12 and a beta of 1.34.

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 return on equity of 81.82% and a net margin of 2.20%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the company earned $1.02 EPS. Live Nation Entertainment’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts anticipate that Live Nation Entertainment will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Live Nation Entertainment by 19.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after purchasing an additional 29,669 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Live Nation Entertainment by 15.8% during the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after acquiring an additional 187,839 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Live Nation Entertainment by 2,723.0% during the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock valued at $40,129,000 after acquiring an additional 413,545 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Live Nation Entertainment by 7.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock valued at $205,144,000 after acquiring an additional 153,825 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at approximately $1,454,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.