Roth MKM Sticks to Its Buy Rating for Live Nation Entertainment (LYV)
Roth MKM analyst Eric Handler maintained a Buy rating on Live Nation Entertainment (LYV – Research Report) today and set a price target of $164.00. The company's shares closed yesterday at $146.19.
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According to TipRanks, Handler is a 5-star analyst with an average return of 13.6% and a 65.27% success rate. Handler covers the Communication Services sector, focusing on stocks such as Electronic Arts, IMAX, and Live Nation Entertainment.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Live Nation Entertainment with a $169.50 average price target, representing a 15.95% upside. In a report released on June 17, Guggenheim also maintained a Buy rating on the stock with a $170.00 price target.
Based on Live Nation Entertainment's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.38 billion and a net profit of $23.2 million. In comparison, last year the company earned a revenue of $3.8 billion and had a GAAP net loss of $46.73 million
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LYV in relation to earlier this year. Last month, John Hopmans, the EVP, M&A and Strategic Finance of LYV sold 34,808.00 shares for a total of $5,130,003.04.
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