Live Nation Entertainment (NYSE:LYV) Reaches New 12-Month High – Time to Buy?

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $142.50 and last traded at $141.81, with a volume of 201347 shares changing hands. The stock had previously closed at $140.13.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Citigroup increased their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. TD Cowen boosted their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI boosted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Oppenheimer boosted their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.40.

Live Nation Entertainment Stock Performance

The stock has a fifty day simple moving average of $135.04 and a two-hundred day simple moving average of $115.92. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $33.51 billion, a PE ratio of 153.49, a PEG ratio of 1.61 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last announced its 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. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 EPS. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.02 EPS for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of LYV. ValueAct Holdings L.P. bought a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $111,094,000. PointState Capital LP acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter worth approximately $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after acquiring an additional 387,008 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Live Nation Entertainment by 37.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock valued at $155,851,000 after acquiring an additional 385,143 shares during the period. Finally, Geode Capital Management LLC lifted its position in Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after purchasing an additional 321,832 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

About Live Nation Entertainment

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.