Rosenblatt Securities Boosts Live Nation Entertainment (NYSE:LYV) Price Target to $123.00

Live Nation Entertainment (NYSE:LYV) had its target price lifted by Rosenblatt Securities from $122.00 to $123.00 in a report released on Wednesday morning. Rosenblatt Securities currently has a buy rating on the stock.

Several other research firms have also weighed in on LYV. Roth Mkm restated a buy rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Friday, May 24th. Oppenheimer restated an outperform rating and set a $110.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. Northcoast Research lowered Live Nation Entertainment from a buy rating to a neutral rating in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft lifted their price target on Live Nation Entertainment from $120.00 to $121.00 and gave the company a buy rating in a research report on Monday, May 6th. Finally, Redburn Atlantic upgraded Live Nation Entertainment from a neutral rating to a buy rating and lifted their price objective for the company from $114.00 to $115.00 in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $118.17.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $91.21 on Wednesday. The firm has a market cap of $21.17 billion, a P/E ratio of 86.87, a P/E/G ratio of 2.18 and a beta of 1.34. Live Nation Entertainment has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The business’s 50 day moving average price is $93.46 and its 200-day moving average price is $94.95. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. Live Nation Entertainment’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 earnings per share. On average, equities research analysts anticipate that Live Nation Entertainment will post 1.21 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. National Bank of Canada FI increased its position in Live Nation Entertainment by 22.0% during the second quarter. National Bank of Canada FI now owns 43,424 shares of the company’s stock valued at $4,115,000 after acquiring an additional 7,819 shares during the last quarter. Hohimer Wealth Management LLC increased its position in Live Nation Entertainment by 1.2% during the second quarter. Hohimer Wealth Management LLC now owns 11,427 shares of the company’s stock valued at $1,071,000 after acquiring an additional 130 shares during the last quarter. Strategy Asset Managers LLC purchased a new stake in Live Nation Entertainment during the second quarter valued at $876,000. Simon Quick Advisors LLC increased its position in Live Nation Entertainment by 79.8% during the second quarter. Simon Quick Advisors LLC now owns 11,525 shares of the company’s stock valued at $1,080,000 after acquiring an additional 5,116 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Live Nation Entertainment by 8.0% during the second quarter. Rhumbline Advisers now owns 292,409 shares of the company’s stock valued at $27,410,000 after acquiring an additional 21,698 shares during the last quarter. Hedge funds and other 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.