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

by · The Cerbat Gem

Live Nation Entertainment (NYSE:LYV – Get Free Report) had its price objective boosted by TD Cowen from $108.00 to $145.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 12.72% from the stock’s current price.

LYV has been the topic of several other research reports. Roth Mkm upped their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Benchmark raised their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Bank of America initiated coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective on the stock. Finally, Evercore ISI upped their target price 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. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.83.

Read Our Latest Analysis on Live Nation Entertainment

Live Nation Entertainment Trading Up 3.9 %

Shares of NYSE:LYV traded up $4.84 during mid-day trading on Tuesday, reaching $128.64. 2,561,249 shares of the company’s stock were exchanged, compared to its average volume of 2,140,370. The firm has a market capitalization of $29.63 billion, a price-to-earnings ratio of 120.98, a PEG ratio of 3.03 and a beta of 1.33. The business’s fifty day moving average price is $110.04 and its 200-day moving average price is $99.68. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment has a twelve month low of $81.38 and a twelve month high of $130.76.

Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its 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 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 84.78% and a net margin of 2.20%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 EPS. On average, research analysts predict that Live Nation Entertainment will post 1.16 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock valued at $17,238,181 in the last 90 days. Insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its stake in Live Nation Entertainment by 442.1% in the first quarter. Janney Montgomery Scott LLC now owns 12,583 shares of the company’s stock valued at $1,331,000 after acquiring an additional 10,262 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Live Nation Entertainment by 27.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,678 shares of the company’s stock worth $495,000 after acquiring an additional 1,002 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Live Nation Entertainment during the 1st quarter valued at $281,000. Oppenheimer & Co. Inc. purchased a new position in Live Nation Entertainment in the 1st quarter worth approximately $212,000. Finally, Headlands Technologies LLC bought a new stake in shares of Live Nation Entertainment in the 1st quarter worth approximately $138,000. 74.52% of the stock is currently owned by institutional investors.

About Live Nation Entertainment

(Get Free Report)

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.

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