Live Nation Entertainment (NYSE:LYV) Receives Buy Rating from TD Cowen

TD Cowen restated their buy rating on shares of Live Nation Entertainment (NYSE:LYV) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a $108.00 price target on the stock.

Several other equities analysts have also issued reports on the company. Morgan Stanley upped their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an overweight rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. upped their price target 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. Roth Mkm raised Live Nation Entertainment from a neutral rating to a buy rating and increased their target price for the company from $92.00 to $114.00 in a research note on Friday, January 12th. Roth Capital raised Live Nation Entertainment from a neutral rating to a buy rating in a research note on Thursday, January 11th. Finally, Oppenheimer increased their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the company an outperform rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Live Nation Entertainment currently has an average rating of Moderate Buy and a consensus price target of $115.70.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $89.98 on Tuesday. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. Live Nation Entertainment has a 52 week low of $64.96 and a 52 week high of $107.24. The stock has a market capitalization of $20.77 billion, a PE ratio of 67.65 and a beta of 1.30. The stock’s fifty day moving average is $99.01 and its 200-day moving average is $91.39.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. Equities research analysts expect that Live Nation Entertainment will post 1.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the sale, the director now directly owns 59,374 shares in the company, valued at $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Live Nation Entertainment by 2.1% during the first quarter. Vanguard Group Inc. now owns 15,499,116 shares of the company’s stock worth $1,823,315,000 after buying an additional 317,335 shares in the last quarter. Select Equity Group L.P. grew its holdings in shares of Live Nation Entertainment by 8.1% during the first quarter. Select Equity Group L.P. now owns 11,512,128 shares of the company’s stock worth $805,849,000 after buying an additional 862,050 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Live Nation Entertainment by 5.1% during the third quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock worth $730,863,000 after buying an additional 429,650 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 0.5% during the third quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock worth $590,301,000 after buying an additional 33,215 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Live Nation Entertainment by 5.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,606,439 shares of the company’s stock worth $460,733,000 after buying an additional 323,756 shares in the last quarter. 74.52% of the stock is currently owned by 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.