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

Live Nation Entertainment (NYSE:LYV) had its target price boosted by research analysts at Macquarie from $130.00 to $146.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s price objective would suggest a potential upside of 13.10% from the company’s current price.

A number of other equities analysts have also recently weighed in on LYV. Evercore ISI increased their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Benchmark upped their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday. TD Cowen lifted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Guggenheim upped their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.57.

Live Nation Entertainment Trading Down 0.1 %

LYV stock traded down $0.10 during trading on Friday, reaching $129.09. 2,612,015 shares of the stock were exchanged, compared to its average volume of 2,176,413. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The firm has a market capitalization of $29.99 billion, a price-to-earnings ratio of 137.57, a P/E/G ratio of 3.27 and a beta of 1.33. The business has a 50 day moving average price of $112.06 and a 200-day moving average price of $100.35. Live Nation Entertainment has a 1 year low of $81.38 and a 1 year high of $130.83.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business’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 company earned $1.78 EPS. On average, research analysts predict that Live Nation Entertainment will post 1.11 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The trade was a 28.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares in the company, valued at approximately $55,255,395. The trade was a 4.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,500 shares of company stock valued at $17,097,016. 2.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LYV. Vanguard Group Inc. lifted its stake in Live Nation Entertainment by 0.6% in the first quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock valued at $1,911,133,000 after buying an additional 110,097 shares during the last quarter. Select Equity Group L.P. raised its position in Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after purchasing an additional 155,920 shares during the period. Principal Financial Group Inc. grew its position in Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after purchasing an additional 87,032 shares during the last quarter. Finally, D1 Capital Partners L.P. raised its holdings in shares of Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after buying an additional 1,093,000 shares during the last quarter. Institutional investors and hedge funds 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.