Roth Mkm Forecasts Strong Price Appreciation for Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment (NYSE:LYV) had its price target increased by equities researchers at Roth Mkm from $152.00 to $174.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price would suggest a potential upside of 16.49% from the company’s previous close.

Several other research firms have also recently commented on LYV. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 price target on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Macquarie increased their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a report on Friday, November 15th. TD Cowen increased their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Bank of America increased their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Evercore ISI increased their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $154.27.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $149.37 on Friday. The company has a market cap of $34.71 billion, a PE ratio of 54.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The stock’s 50 day simple moving average is $139.23 and its 200-day simple moving average is $122.52. Live Nation Entertainment has a 1-year low of $86.81 and a 1-year high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. As a group, equities research analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors have recently modified their holdings of LYV. Creative Planning grew its stake in shares of Live Nation Entertainment by 3.2% in the third quarter. Creative Planning now owns 29,405 shares of the company’s stock valued at $3,220,000 after buying an additional 904 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Live Nation Entertainment by 385.3% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $58,000 after buying an additional 420 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Live Nation Entertainment by 17.7% in the third quarter. Sequoia Financial Advisors LLC now owns 2,882 shares of the company’s stock valued at $316,000 after buying an additional 434 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after purchasing an additional 89 shares during the period. Finally, Hartford Investment Management Co. boosted its holdings in Live Nation Entertainment by 8.0% in the third quarter. Hartford Investment Management Co. now owns 9,880 shares of the company’s stock valued at $1,082,000 after purchasing an additional 730 shares during the period. 74.52% of the stock is 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.