Benchmark Reiterates “Buy” Rating for Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment (NYSE:LYV)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a report issued on Thursday,Benzinga reports. They presently have a $160.00 price objective on the stock. Benchmark’s target price suggests a potential upside of 7.12% from the company’s current price.

A number of other brokerages have also issued reports on LYV. Oppenheimer increased their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Roth Mkm increased their price target on Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Citigroup increased their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Bank of America boosted their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.27.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $149.37 on Thursday. The firm has a fifty day moving average of $139.23 and a 200-day moving average of $122.30. The company has a market cap of $34.71 billion, a price-to-earnings ratio of 158.91, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38. 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 has a 1 year low of $86.81 and a 1 year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data 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. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. As a group, equities analysts anticipate that Live Nation Entertainment will post 0.99 earnings per share for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently modified their holdings of LYV. Measured Risk Portfolios Inc. purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $29,000. Brooklyn Investment Group acquired a new stake in Live Nation Entertainment during the 3rd quarter worth about $31,000. World Investment Advisors LLC purchased a new stake in Live Nation Entertainment during the third quarter valued at about $38,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth about $40,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Live Nation Entertainment in the third quarter worth approximately $41,000. 74.52% of the stock is owned by institutional investors.

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.