Live Nation Entertainment (NYSE:LYV) Price Target Raised to $165.00

Live Nation Entertainment (NYSE:LYV) had its target price lifted by The Goldman Sachs Group from $160.00 to $165.00 in a research note published on Friday morning, MarketBeat.com reports. The Goldman Sachs Group currently has a sell rating on the stock.

Other equities analysts also recently issued reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Morgan Stanley dropped their price objective on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Citigroup decreased their price objective on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Eighteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Live Nation Entertainment 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. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $34.11 billion, a price-to-earnings ratio of 105.29, a PEG ratio of 9.30 and a beta of 1.20. The firm has a 50 day simple moving average of $139.61 and a 200-day simple moving average of $150.62. Live Nation Entertainment has a one year low of $112.88 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. During the same quarter last year, the business posted $1.66 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. 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 large investors have recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp purchased a new position in Live Nation Entertainment during the third quarter worth about $41,000. CIBC Private Wealth Group LLC raised its stake in shares of Live Nation Entertainment by 5.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 585,304 shares of the company’s stock worth $95,639,000 after buying an additional 32,061 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $19,640,000. WBI Investments LLC acquired a new position in Live Nation Entertainment during the third quarter worth $542,000. Finally, Coldstream Capital Management Inc. raised its position in Live Nation Entertainment by 14.9% in the third quarter. Coldstream Capital Management Inc. now owns 2,736 shares of the company’s stock worth $447,000 after acquiring an additional 355 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

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.