Evercore ISI Forecasts Strong Price Appreciation for Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by investment analysts at Evercore ISI from $110.00 to $150.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target indicates a potential upside of 16.72% from the company’s current price.

Other analysts have also issued reports about the company. Bank of America began coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Roth Mkm raised their price target on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.83.

Live Nation Entertainment Trading Up 3.8 %

LYV opened at $128.51 on Tuesday. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $130.76. The company has a market cap of $29.60 billion, a P/E ratio of 124.25, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33. The company has a fifty day moving average price of $110.04 and a two-hundred day moving average price of $99.68. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Analysts predict that Live Nation Entertainment will post 1.16 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now owns 59,789 shares in the company, valued at $5,626,742.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 over the last ninety days. Insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cromwell Holdings LLC boosted its holdings in Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after acquiring an additional 88 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Live Nation Entertainment by 2.8% during the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after buying an additional 89 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Live Nation Entertainment by 1.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $728,000 after purchasing an additional 95 shares during the last quarter. Empirical Finance LLC raised its stake in shares of Live Nation Entertainment by 2.3% in the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock worth $508,000 after purchasing an additional 105 shares during the last quarter. Finally, Mystic Asset Management Inc. lifted its stake in Live Nation Entertainment by 2.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after acquiring an additional 110 shares during the period. 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.