Live Nation Entertainment (NYSE:LYV) Hits New 1-Year High – Still a Buy?

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

Analysts Set New Price Targets

LYV has been the subject of several recent analyst reports. Citigroup increased their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Roth Mkm increased their price target on Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group increased their price target on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Stock Performance

The firm has a 50 day moving average of $134.75 and a 200-day moving average of $115.42. The stock has a market capitalization of $33.26 billion, a PE ratio of 152.49, a P/E/G ratio of 1.61 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period last year, the business earned $1.78 EPS. The business’s quarterly revenue was down 6.2% on a year-over-year basis. Research analysts forecast that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter worth about $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $42,000. Retirement Wealth Solutions LLC acquired a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $44,000. Independence Bank of Kentucky acquired a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $45,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $41,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.