Live Nation Entertainment (NYSE:LYV) Sets New 1-Year High – Here’s Why

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $145.33 and last traded at $142.44, with a volume of 1997705 shares changing hands. The stock had previously closed at $144.06.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Oppenheimer boosted their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Bank of America upped their price objective on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Citigroup upped their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Macquarie upped their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $33.48 billion, a P/E ratio of 153.38, a PEG ratio of 1.67 and a beta of 1.38. The firm’s fifty day moving average price is $135.23 and its 200-day moving average price is $116.71.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 earnings per share. Analysts forecast that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds have recently bought and sold shares of the business. Creative Planning lifted its holdings in Live Nation Entertainment by 1.2% during the second quarter. Creative Planning now owns 28,501 shares of the company’s stock valued at $2,672,000 after purchasing an additional 326 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Live Nation Entertainment by 74.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,755 shares of the company’s stock worth $446,000 after purchasing an additional 2,035 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Live Nation Entertainment in the second quarter worth $4,999,000. Czech National Bank increased its position in Live Nation Entertainment by 17.5% in the third quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after purchasing an additional 4,761 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Live Nation Entertainment by 35.1% in the third quarter. GAMMA Investing LLC now owns 2,469 shares of the company’s stock worth $270,000 after purchasing an additional 641 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.