Live Nation Entertainment (NYSE:LYV) Price Target Raised to $195.00 at Citigroup

Live Nation Entertainment (NYSE:LYV) had its target price lifted by Citigroup from $165.00 to $195.00 in a research note issued to investors on Tuesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently commented on LYV. Oppenheimer upped their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Guggenheim reiterated a “buy” rating and set a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the company a “positive” rating in a report on Tuesday, June 10th. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They set an “outperform” rating and a $185.00 price target on the stock. Finally, Wolfe Research upped their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Tuesday, June 10th. Eighteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $170.72.

Live Nation Entertainment Stock Up 0.6%

Shares of NYSE LYV opened at $170.36 on Tuesday. The firm’s 50-day moving average price is $155.60 and its 200-day moving average price is $142.46. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The stock has a market capitalization of $39.94 billion, a price-to-earnings ratio of 73.75, a P/E/G ratio of 11.43 and a beta of 1.42. Live Nation Entertainment has a 12-month low of $93.64 and a 12-month high of $170.86.

Live Nation Entertainment (NYSE:LYV) last announced its 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 business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. On average, equities research analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its position in Live Nation Entertainment by 44.0% during the 2nd quarter. Osaic Holdings Inc. now owns 23,966 shares of the company’s stock valued at $3,407,000 after purchasing an additional 7,322 shares during the period. Hershey Financial Advisers LLC purchased a new position in Live Nation Entertainment during the 2nd quarter valued at about $998,000. Caxton Associates LLP boosted its stake in shares of Live Nation Entertainment by 193.3% during the second quarter. Caxton Associates LLP now owns 10,365 shares of the company’s stock valued at $1,568,000 after purchasing an additional 6,831 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $56,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Live Nation Entertainment by 42.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 172,576 shares of the company’s stock valued at $26,150,000 after purchasing an additional 51,207 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.