The Goldman Sachs Group Boosts Live Nation Entertainment (NYSE:LYV) Price Target to $166.00

Live Nation Entertainment (NYSE:LYV) had its price target upped by The Goldman Sachs Group from $148.00 to $166.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 7.93% from the company’s current price.

LYV has been the subject of several other research reports. Evercore ISI raised their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Bank of America lifted their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. TD Cowen lifted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.60.

Live Nation Entertainment Price Performance

LYV stock opened at $153.80 on Thursday. The company has a fifty day moving average price of $137.45 and a 200-day moving average price of $120.21. The company has a market capitalization of $35.73 billion, a P/E ratio of 163.61, a PEG ratio of 1.73 and a beta of 1.38. Live Nation Entertainment has a 52-week low of $86.81 and a 52-week high of $153.94. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last released its quarterly 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 firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’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 earnings per share. As a group, equities analysts expect that Live Nation Entertainment will post 0.99 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in Live Nation Entertainment during the third quarter worth about $31,000. World Investment Advisors LLC purchased a new position in Live Nation Entertainment during the third quarter worth about $38,000. Murphy & Mullick Capital Management Corp purchased a new position in Live Nation Entertainment during the fourth quarter worth about $40,000. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment during the third quarter worth about $41,000. Finally, Morse Asset Management Inc purchased a new position in Live Nation Entertainment during the third quarter worth about $42,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

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.