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

Live Nation Entertainment, Inc. (NYSE:LYV)’s share price reached a new 52-week high on Monday . The company traded as high as $166.54 and last traded at $165.85, with a volume of 1914577 shares. The stock had previously closed at $162.47.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a “positive” rating in a report on Tuesday, June 10th. Moffett Nathanson began coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They issued a “buy” rating and a $195.00 price target for the company. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Wolfe Research increased their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 10th. Finally, Guggenheim reissued a “buy” rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Eighteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Live Nation Entertainment currently has an average rating of “Buy” and a consensus target price of $168.94.

Live Nation Entertainment Trading Up 0.5%

The firm has a 50-day moving average price of $152.21 and a 200-day moving average price of $141.46. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $39.08 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 10.00 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.Live Nation Entertainment’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

Several large investors have recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC raised its position in shares of Live Nation Entertainment by 2.5% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after purchasing an additional 69 shares during the last quarter. Gilbert & Cook Inc. raised its position in Live Nation Entertainment by 1.4% in the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock worth $723,000 after buying an additional 75 shares during the last quarter. Vident Advisory LLC raised its position in Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after buying an additional 75 shares during the last quarter. Central Pacific Bank Trust Division raised its position in Live Nation Entertainment by 1.8% in the 2nd quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock worth $835,000 after buying an additional 97 shares during the last quarter. Finally, Trust Asset Management LLC raised its position in Live Nation Entertainment by 5.8% in the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after buying an additional 98 shares during the last quarter. Hedge funds and other 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.