Live Nation Entertainment (NYSE:LYV) Price Target Raised to $165.00 at The Goldman Sachs Group

Live Nation Entertainment (NYSE:LYV) had its price target boosted by The Goldman Sachs Group from $160.00 to $165.00 in a research report released on Friday,MarketScreener reports. The Goldman Sachs Group currently has a sell rating on the stock.

Several other analysts also recently weighed in on LYV. UBS Group initiated coverage on shares of Live Nation Entertainment in a report on Tuesday, November 25th. They issued a “buy” rating and a $164.00 target price on the stock. Rothschild Redb lowered Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Rothschild & Co Redburn downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating and increased their target price for the stock from $144.00 to $170.00 in a research note on Tuesday, September 16th. Guggenheim reduced their price target on Live Nation Entertainment from $175.00 to $172.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.25.

Live Nation Entertainment Trading Up 2.0%

NYSE:LYV opened at $145.31 on Friday. Live Nation Entertainment has a 12-month low of $112.88 and a 12-month high of $175.25. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41. The stock’s 50 day simple moving average is $139.61 and its 200-day simple moving average is $150.57. The firm has a market cap of $34.11 billion, a P/E ratio of 105.29, a PEG ratio of 9.12 and a beta of 1.20.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $1.66 earnings per share. Equities analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds have recently bought and sold shares of the company. Clearstead Trust LLC boosted its position in Live Nation Entertainment by 469.0% during the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after purchasing an additional 136 shares in the last quarter. Ameriflex Group Inc. raised its stake in shares of Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $33,000. Heartwood Wealth Advisors LLC acquired a new stake in Live Nation Entertainment in the 3rd quarter valued at about $34,000. Finally, Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment during the 3rd quarter valued at about $37,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.