Live Nation Entertainment (NYSE:LYV) Receives Buy Rating from William Blair

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reaffirmed by William Blair in a research note issued on Monday, TipRanks reports.

A number of other brokerages also recently commented on LYV. Guggenheim set a $84.00 target price on Live Nation Entertainment and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley initiated coverage on Live Nation Entertainment in a research note on Tuesday, October 8th. They issued an “equal weight” rating and a $75.00 target price on the stock. ValuEngine upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Evercore ISI upgraded Live Nation Entertainment from an “in-line” rating to an “outperform” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group set a $84.00 target price on Live Nation Entertainment and gave the company a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $73.33.

Shares of LYV stock traded up $1.48 on Monday, reaching $66.88. 1,145,149 shares of the company’s stock traded hands, compared to its average volume of 1,168,628. Live Nation Entertainment has a 12-month low of $46.02 and a 12-month high of $73.71. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $13.89 billion, a P/E ratio of -743.11 and a beta of 1.19. The business’s 50 day moving average price is $66.91 and its two-hundred day moving average price is $67.40.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, October 31st. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.08). Live Nation Entertainment had a net margin of 0.61% and a return on equity of 4.96%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same quarter last year, the firm earned $0.70 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts predict that Live Nation Entertainment will post 0.15 earnings per share for the current year.

In other news, EVP Michael Rowles sold 67,840 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $71.71, for a total transaction of $4,864,806.40. Following the completion of the sale, the executive vice president now owns 257,691 shares in the company, valued at approximately $18,479,021.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James S. Kahan purchased 4,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were bought at an average price of $61.54 per share, with a total value of $276,930.00. Following the purchase, the director now owns 82,821 shares in the company, valued at approximately $5,096,804.34. The disclosure for this purchase can be found here. Corporate insiders own 4.82% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Findlay Park Partners LLP lifted its position in shares of Live Nation Entertainment by 19.7% during the 3rd quarter. Findlay Park Partners LLP now owns 6,537,000 shares of the company’s stock worth $433,665,000 after purchasing an additional 1,075,000 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Live Nation Entertainment during the 2nd quarter worth about $36,074,000. Vanguard Group Inc. lifted its position in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,451,018 shares of the company’s stock worth $824,880,000 after purchasing an additional 254,042 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Live Nation Entertainment by 23.5% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,042,558 shares of the company’s stock worth $69,069,000 after purchasing an additional 198,558 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its position in shares of Live Nation Entertainment by 63.2% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 464,181 shares of the company’s stock worth $30,752,000 after purchasing an additional 179,838 shares during the last quarter. Institutional investors own 67.25% 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 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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Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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