Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, Benchmark Analyst Says

Live Nation Entertainment (NYSE:LYV) had its target price raised by research analysts at Benchmark from $144.00 to $160.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 20.05% from the stock’s current price.

A number of other analysts have also weighed in on LYV. The Goldman Sachs Group upped their price objective on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. TD Cowen boosted their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Evercore ISI boosted their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Citigroup raised their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $133.28 on Thursday. The stock has a market capitalization of $30.97 billion, a price-to-earnings ratio of 141.79, a price-to-earnings-growth ratio of 3.65 and a beta of 1.37. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day moving average of $127.65 and a 200 day moving average of $107.49. Live Nation Entertainment has a 12 month low of $86.67 and a 12 month high of $141.18.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Live Nation Entertainment will post 1.04 earnings per share for the current year.

Institutional Trading of Live Nation Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. Select Equity Group L.P. grew its position in Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Live Nation Entertainment by 1.8% during the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock worth $817,658,000 after buying an additional 155,920 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 1.2% during the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after buying an additional 87,032 shares during the last quarter. Geode Capital Management LLC increased its position in Live Nation Entertainment by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after acquiring an additional 321,832 shares during the period. Finally, D1 Capital Partners L.P. raised its stake in Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after acquiring an additional 1,093,000 shares during 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.