Live Nation Entertainment (NYSE:LYV) Stock Rating Reaffirmed by Oppenheimer

Live Nation Entertainment (NYSE:LYV)‘s stock had its “outperform” rating reiterated by research analysts at Oppenheimer in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $110.00 price objective on the stock. Oppenheimer’s price objective suggests a potential upside of 21.79% from the stock’s previous close.

A number of other research firms also recently weighed in on LYV. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Rosenblatt Securities raised their target price on Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. dropped their price target 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. Morgan Stanley reissued an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Finally, TD Cowen reiterated a “buy” rating and set a $108.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $115.58.

Live Nation Entertainment Trading Up 0.5 %

NYSE LYV opened at $90.32 on Tuesday. Live Nation Entertainment has a one year low of $76.48 and a one year high of $107.24. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $92.91 and a 200 day simple moving average of $94.31. The stock has a market capitalization of $20.75 billion, a P/E ratio of 86.02, a P/E/G ratio of 1.84 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business posted ($0.25) EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts expect that Live Nation Entertainment will post 1.37 earnings per share for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently added to or reduced their stakes in LYV. Norges Bank acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $248,139,000. Cantillon Capital Management LLC lifted its stake in Live Nation Entertainment by 146.6% during the fourth quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock worth $257,101,000 after purchasing an additional 1,632,749 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its position in shares of Live Nation Entertainment by 52.8% during the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock worth $174,384,000 after buying an additional 726,000 shares during the period. Nordea Investment Management AB grew its stake in shares of Live Nation Entertainment by 104.2% in the fourth quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock valued at $112,268,000 after buying an additional 606,743 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new stake in shares of Live Nation Entertainment in the 4th quarter valued at $44,340,000. 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.