Live Nation Entertainment (NYSE:LYV) Price Target Raised to $175.00 at Bank of America

Live Nation Entertainment (NYSE:LYV) had its target price raised by Bank of America from $149.00 to $175.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. The Goldman Sachs Group upped their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Macquarie raised their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Guggenheim boosted their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $156.00.

Live Nation Entertainment Trading Up 3.5 %

LYV stock opened at $154.59 on Monday. Live Nation Entertainment has a 52 week low of $86.81 and a 52 week high of $157.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50-day simple moving average is $139.57 and its 200 day simple moving average is $123.19. The company has a market capitalization of $35.92 billion, a PE ratio of 56.84, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

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

Hedge Funds Weigh In On Live Nation Entertainment

Several large investors have recently bought and sold shares of the company. Independent Franchise Partners LLP increased its stake in shares of Live Nation Entertainment by 207.6% in the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock valued at $607,871,000 after buying an additional 3,168,210 shares during the period. Groupama Asset Managment bought a new stake in Live Nation Entertainment during the 4th quarter worth approximately $259,000,000. Norges Bank acquired a new position in Live Nation Entertainment in the 4th quarter valued at approximately $255,955,000. ValueAct Holdings L.P. bought a new position in shares of Live Nation Entertainment during the third quarter valued at $111,094,000. Finally, PointState Capital LP acquired a new position in shares of Live Nation Entertainment during the third quarter worth $102,762,000. 74.52% of the stock is currently owned by 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.