Live Nation Entertainment (NYSE:LYV) Sets New 1-Year High – Here’s Why

Live Nation Entertainment, Inc. (NYSE:LYV)’s share price reached a new 52-week high on Monday . The company traded as high as $145.33 and last traded at $142.44, with a volume of 1997705 shares traded. The stock had previously closed at $144.06.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LYV. Roth Mkm boosted their target price on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Guggenheim upped their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. TD Cowen upped their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Bank of America upped their price objective on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Two investment 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, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.40.

Live Nation Entertainment Trading Down 0.4 %

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company’s fifty day simple moving average is $135.23 and its two-hundred day simple moving average is $116.71. The company has a market capitalization of $33.48 billion, a price-to-earnings ratio of 153.38, a price-to-earnings-growth ratio of 1.67 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same period last year, the business posted $1.78 earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. Research analysts forecast that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new position in Live Nation Entertainment in the third quarter valued at $31,000. World Investment Advisors LLC bought a new position in shares of Live Nation Entertainment in the 3rd quarter valued at about $38,000. Reston Wealth Management LLC bought a new position in shares of Live Nation Entertainment in the 3rd quarter valued at about $41,000. Morse Asset Management Inc bought a new position in shares of Live Nation Entertainment in the 3rd quarter valued at about $42,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $42,000. Institutional investors 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.