Live Nation Entertainment (NYSE:LYV) Sets New 1-Year High – Should You Buy?

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price hit a new 52-week high during trading 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Bank of America boosted their target price on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Evercore ISI boosted their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Macquarie boosted their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, Oppenheimer boosted their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.40.

Live Nation Entertainment Stock Performance

The stock has a 50-day simple moving average of $134.75 and a 200-day simple moving average of $115.42. The company has a market capitalization of $33.26 billion, a price-to-earnings ratio of 152.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $7.75 billion. During the same period in the prior year, the company posted $1.78 EPS. Live Nation Entertainment’s quarterly revenue was down 6.2% on a year-over-year basis. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the company. Entropy Technologies LP acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at approximately $703,000. SOA Wealth Advisors LLC. raised its position in shares of Live Nation Entertainment by 19.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after acquiring an additional 80 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at approximately $42,000. Prairie Wealth Advisors Inc. acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at approximately $211,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Live Nation Entertainment by 1.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,067 shares of the company’s stock worth $2,210,000 after buying an additional 219 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

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.