Deutsche Bank Aktiengesellschaft Increases Live Nation Entertainment (NYSE:LYV) Price Target to $121.00

Live Nation Entertainment (NYSE:LYV) had its price target raised by investment analysts at Deutsche Bank Aktiengesellschaft from $120.00 to $121.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 26.00% from the stock’s previous close.

LYV has been the topic of a number of other reports. Roth Mkm reiterated a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. TD Cowen reaffirmed a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Morgan Stanley lifted their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Roth Capital raised Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Live Nation Entertainment Stock Up 1.4 %

NYSE LYV traded up $1.37 during trading on Monday, hitting $96.03. 1,753,050 shares of the company traded hands, compared to its average volume of 2,291,546. The company has a market capitalization of $22.23 billion, a P/E ratio of 91.39, a PEG ratio of 1.92 and a beta of 1.34. The business has a fifty day simple moving average of $98.60 and a 200 day simple moving average of $91.79. Live Nation Entertainment has a 12 month low of $76.48 and a 12 month high of $107.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted ($0.25) earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, sell-side analysts predict that Live Nation Entertainment will post 1.63 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now owns 59,374 shares of the company’s stock, valued at $5,967,087. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at $248,139,000. Cantillon Capital Management LLC lifted its holdings in Live Nation Entertainment by 146.6% during the 4th quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock valued at $257,101,000 after purchasing an additional 1,632,749 shares during the last quarter. Findlay Park Partners LLP boosted its position in Live Nation Entertainment by 55.1% in the third quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock valued at $254,060,000 after buying an additional 1,087,264 shares in the last quarter. Jericho Capital Asset Management L.P. grew its stake in Live Nation Entertainment by 52.8% during the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock worth $174,384,000 after buying an additional 726,000 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Live Nation Entertainment by 104.2% in the fourth quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock valued at $112,268,000 after acquiring an additional 606,743 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.