Live Nation Entertainment (NYSE:LYV) Price Target Raised to $170.00

Live Nation Entertainment (NYSE:LYV) had its price objective upped by The Goldman Sachs Group from $168.00 to $170.00 in a research note published on Thursday,MarketScreener reports. They currently have a buy rating on the stock.

A number of other research analysts have also weighed in on LYV. Rothschild & Co Redburn lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $144.00 to $170.00 in a research report on Tuesday, September 16th. Wolfe Research boosted their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. Benchmark boosted their target price on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Oppenheimer boosted their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Finally, Rothschild Redb lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.42.

Live Nation Entertainment Stock Down 0.4%

LYV stock opened at $156.01 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment has a 1 year low of $109.15 and a 1 year high of $175.25. The company has a fifty day simple moving average of $161.58 and a 200 day simple moving average of $146.70. The firm has a market cap of $36.58 billion, a PE ratio of 67.54, a PEG ratio of 10.63 and a beta of 1.40.

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

Institutional Trading of Live Nation Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Live Nation Entertainment by 2.1% in the second quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock valued at $3,071,954,000 after acquiring an additional 423,541 shares during the period. Canada Pension Plan Investment Board increased its stake in Live Nation Entertainment by 4.4% in the first quarter. Canada Pension Plan Investment Board now owns 9,029,939 shares of the company’s stock valued at $1,179,129,000 after acquiring an additional 379,924 shares during the period. Principal Financial Group Inc. increased its stake in Live Nation Entertainment by 4.0% in the first quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company’s stock valued at $991,952,000 after acquiring an additional 294,310 shares during the period. Independent Franchise Partners LLP increased its stake in Live Nation Entertainment by 21.4% in the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock valued at $744,118,000 after acquiring an additional 1,004,574 shares during the period. Finally, Geode Capital Management LLC increased its stake in Live Nation Entertainment by 3.8% in the second quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock valued at $639,849,000 after acquiring an additional 156,471 shares during the period. Institutional investors own 74.52% of the company’s stock.

About Live Nation Entertainment

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.