Live Nation Entertainment, Inc. (LYV) Rating Increased to Buy at Zacks Investment Research

Live Nation Entertainment, Inc. (NYSE:LYV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $48.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 12.02% from the stock’s current price.

According to Zacks, “Live Nation Entertainment, Inc. is the world’s premier live entertainment company, consisting of Live Nation, Ticketmaster and Front Line Management Group. The Company engages in producing, marketing, and selling live concerts for artists via its concert pipe. Live Nation owns and operates many venues, including House of Blues music venues and locations, such as The Fillmore in San Francisco, Nikon at Jones Beach Theatre in New York and London’s Wembley Arena. In addition, it also produces, promotes or hosts theatrical, specialized motor sports and other live entertainment events. The Company is driving major innovations in ticketing technology, marketing and service. It offers ticket sales, ticket resale services, and marketing and distribution through ticketmaster.com, an e-commerce site on the Internet. Live Nation Entertainment, Inc. was formerly known as Live Nation, Inc. and is based in Beverly Hills, California. “

A number of other equities research analysts have also recently weighed in on LYV. Stephens reaffirmed an “overweight” rating and set a $44.00 price target (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Friday, August 11th. BidaskClub raised Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. William Blair assumed coverage on Live Nation Entertainment in a report on Friday, July 21st. They set an “outperform” rating on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of Live Nation Entertainment in a report on Tuesday, September 12th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Live Nation Entertainment currently has an average rating of “Buy” and a consensus price target of $40.86.

Shares of Live Nation Entertainment (NYSE:LYV) opened at 42.85 on Tuesday. The stock has a market capitalization of $8.79 billion, a P/E ratio of 6121.43 and a beta of 1.03. The firm’s 50-day moving average price is $41.43 and its 200 day moving average price is $36.19. Live Nation Entertainment has a 1-year low of $26.41 and a 1-year high of $43.86.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the company posted $0.13 earnings per share. Live Nation Entertainment’s revenue was up 29.3% on a year-over-year basis. Analysts expect that Live Nation Entertainment will post $0.22 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Live Nation Entertainment, Inc. (LYV) Rating Increased to Buy at Zacks Investment Research” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/live-nation-entertainment-inc-lyv-rating-increased-to-buy-at-zacks-investment-research.html.

In related news, Director Ariel Emanuel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $41.56, for a total transaction of $415,600.00. Following the transaction, the director now owns 85,737 shares in the company, valued at $3,563,229.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Capo sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $40.50, for a total transaction of $303,750.00. Following the transaction, the insider now owns 13,354 shares in the company, valued at approximately $540,837. The disclosure for this sale can be found here. Insiders own 4.77% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC increased its stake in shares of Live Nation Entertainment by 58.5% during the second quarter. IHT Wealth Management LLC now owns 2,574 shares of the company’s stock valued at $280,000 after acquiring an additional 950 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Live Nation Entertainment by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after acquiring an additional 445 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $210,000. Montag A & Associates Inc. acquired a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $261,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $233,000. Institutional investors and hedge funds own 65.64% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live enter

According to Zacks, “Live Nation Entertainment, Inc. is the world’s premier live entertainment company, consisting of Live Nation, Ticketmaster and Front Line Management Group. The Company engages in producing, marketing, and selling live concerts for artists via its concert pipe. Live Nation owns and operates many venues, including House of Blues music venues and locations, such as The Fillmore in San Francisco, Nikon at Jones Beach Theatre in New York and London’s Wembley Arena. In addition, it also produces, promotes or hosts theatrical, specialized motor sports and other live entertainment events. The Company is driving major innovations in ticketing technology, marketing and service. It offers ticket sales, ticket resale services, and marketing and distribution through ticketmaster.com, an e-commerce site on the Internet. Live Nation Entertainment, Inc. was formerly known as Live Nation, Inc. and is based in Beverly Hills, California. “

A number of other equities research analysts have also recently weighed in on LYV. Stephens reaffirmed an “overweight” rating and set a $44.00 price target (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Friday, August 11th. BidaskClub raised Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. William Blair assumed coverage on Live Nation Entertainment in a report on Friday, July 21st. They set an “outperform” rating on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of Live Nation Entertainment in a report on Tuesday, September 12th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Live Nation Entertainment currently has an average rating of “Buy” and a consensus price target of $40.86.

Shares of Live Nation Entertainment (NYSE:LYV) opened at 42.85 on Tuesday. The stock has a market capitalization of $8.79 billion, a P/E ratio of 6121.43 and a beta of 1.03. The firm’s 50-day moving average price is $41.43 and its 200 day moving average price is $36.19. Live Nation Entertainment has a 1-year low of $26.41 and a 1-year high of $43.86.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the company posted $0.13 earnings per share. Live Nation Entertainment’s revenue was up 29.3% on a year-over-year basis. Analysts expect that Live Nation Entertainment will post $0.22 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Live Nation Entertainment, Inc. (LYV) Rating Increased to Buy at Zacks Investment Research” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/live-nation-entertainment-inc-lyv-rating-increased-to-buy-at-zacks-investment-research.html.

In related news, Director Ariel Emanuel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $41.56, for a total transaction of $415,600.00. Following the transaction, the director now owns 85,737 shares in the company, valued at $3,563,229.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Capo sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $40.50, for a total transaction of $303,750.00. Following the transaction, the insider now owns 13,354 shares in the company, valued at approximately $540,837. The disclosure for this sale can be found here. Insiders own 4.77% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC increased its stake in shares of Live Nation Entertainment by 58.5% during the second quarter. IHT Wealth Management LLC now owns 2,574 shares of the company’s stock valued at $280,000 after acquiring an additional 950 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Live Nation Entertainment by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after acquiring an additional 445 shares during the period. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $210,000. Montag A & Associates Inc. acquired a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $261,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $233,000. Institutional investors and hedge funds own 65.64% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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