Live Nation Entertainment (NYSE:LYV) Sets New 12-Month High Following Analyst Upgrade

Live Nation Entertainment, Inc. (NYSE:LYV) hit a new 52-week high during mid-day trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $148.00 to $166.00. The Goldman Sachs Group currently has a buy rating on the stock. Live Nation Entertainment traded as high as $152.27 and last traded at $152.11, with a volume of 1599831 shares changing hands. The stock had previously closed at $149.69.

Several other equities research analysts have also issued reports on LYV. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Benchmark increased their price target on Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Roth Mkm lifted their price objective on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Bank of America increased their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Guggenheim lifted their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $146.60.

Institutional Investors Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Live Nation Entertainment during the third quarter valued at $31,000. World Investment Advisors LLC bought a new position in Live Nation Entertainment during the 3rd quarter worth about $38,000. Murphy & Mullick Capital Management Corp purchased a new position in Live Nation Entertainment during the 4th quarter valued at about $40,000. Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at about $41,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Live Nation Entertainment in the 3rd quarter worth approximately $42,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Trading Up 1.9 %

The stock has a market capitalization of $35.45 billion, a P/E ratio of 162.32, a P/E/G ratio of 1.73 and a beta of 1.38. The stock’s 50 day moving average price is $137.11 and its 200-day moving average price is $119.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current year.

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.