Live Nation Entertainment (NYSE:LYV) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Live Nation Entertainment (NYSE:LYV) in a research report sent to investors on Tuesday morning, Benzinga reports. Oppenheimer currently has a $110.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Morgan Stanley reaffirmed an overweight rating and set a $120.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Northcoast Research cut shares of Live Nation Entertainment from a buy rating to a neutral rating in a report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the company a buy rating in a report on Monday, May 6th. Redburn Atlantic raised shares of Live Nation Entertainment from a neutral rating to a buy rating and raised their price objective for the stock from $114.00 to $115.00 in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of Live Nation Entertainment from $126.00 to $116.00 and set an overweight rating on the stock in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $115.58.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $93.74 on Tuesday. The firm has a 50-day moving average of $93.01 and a two-hundred day moving average of $94.33. The company has a market capitalization of $21.54 billion, a price-to-earnings ratio of 89.28, a PEG ratio of 1.85 and a beta of 1.35. 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 has a twelve month low of $76.48 and a twelve month high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) earnings per share. As a group, analysts expect that Live Nation Entertainment will post 1.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Live Nation Entertainment by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after purchasing an additional 110,097 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Live Nation Entertainment by 12.0% during the first quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock valued at $384,346,000 after buying an additional 388,980 shares in the last quarter. Cantillon Capital Management LLC lifted its position in shares of Live Nation Entertainment by 16.7% in the first quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock worth $339,066,000 after buying an additional 458,893 shares during the last quarter. Norges Bank bought a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $248,139,000. Finally, Artisan Partners Limited Partnership raised its stake in shares of Live Nation Entertainment by 7.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock valued at $205,144,000 after acquiring an additional 153,825 shares in 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.