Live Nation Entertainment (LYV) Earns Buy Rating from Analysts at Berenberg Bank

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Berenberg Bank began coverage on shares of Live Nation Entertainment (NYSE:LYV) in a research report released on Tuesday morning, Benzinga reports. The brokerage issued a buy rating and a $73.00 price objective on the stock.

LYV has been the subject of several other reports. Zacks Investment Research raised Live Nation Entertainment from a hold rating to a strong-buy rating and set a $63.00 price objective for the company in a research note on Thursday, February 14th. ValuEngine lowered Live Nation Entertainment from a strong-buy rating to a buy rating in a research note on Monday, April 1st. Stephens raised their price target on Live Nation Entertainment to $70.00 and gave the stock an overweight rating in a research note on Friday, March 29th. Finally, Citigroup lowered Live Nation Entertainment from a buy rating to a neutral rating and raised their price target for the stock from $59.00 to $63.00 in a research note on Friday, March 15th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Live Nation Entertainment presently has an average rating of Buy and an average target price of $62.00.

Shares of NYSE:LYV traded down $0.43 during trading on Tuesday, hitting $63.95. The company had a trading volume of 17,669 shares, compared to its average volume of 1,379,366. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of -709.72 and a beta of 1.14. Live Nation Entertainment has a one year low of $42.61 and a one year high of $67.00. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.94 and a quick ratio of 0.94.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.03. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.59 billion. Live Nation Entertainment had a return on equity of 1.77% and a net margin of 0.22%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company earned ($0.24) EPS. As a group, analysts expect that Live Nation Entertainment will post 0.27 earnings per share for the current fiscal year.

In related news, Director Ariel Emanuel sold 7,790 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $64.25, for a total transaction of $500,507.50. Following the completion of the sale, the director now directly owns 71,394 shares of the company’s stock, valued at approximately $4,587,064.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.19% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cleararc Capital Inc. purchased a new position in Live Nation Entertainment during the 1st quarter worth $226,000. EMS Capital LP increased its holdings in Live Nation Entertainment by 20.3% during the 1st quarter. EMS Capital LP now owns 729,167 shares of the company’s stock worth $46,331,000 after purchasing an additional 122,930 shares during the period. Kore Private Wealth LLC purchased a new position in Live Nation Entertainment during the 1st quarter worth $278,000. RMB Capital Management LLC increased its holdings in Live Nation Entertainment by 16.7% during the 1st quarter. RMB Capital Management LLC now owns 5,450 shares of the company’s stock worth $346,000 after purchasing an additional 781 shares during the period. Finally, Zebra Capital Management LLC purchased a new position in Live Nation Entertainment during the 1st quarter worth $330,000. Institutional investors own 69.97% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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