Live Nation Entertainment (NYSE:LYV) Price Target Raised to $170.00

Live Nation Entertainment (NYSE:LYV) had its price target raised by JPMorgan Chase & Co. from $150.00 to $170.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently issued reports on LYV. Guggenheim upped their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Roth Mkm upped their price target on Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Evercore ISI upped their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, The Goldman Sachs Group upped their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.27.

Live Nation Entertainment Stock Down 1.9 %

Live Nation Entertainment stock opened at $149.37 on Friday. The stock has a market capitalization 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. Live Nation Entertainment has a 12 month low of $86.81 and a 12 month high of $157.75. The business has a 50 day simple moving average of $139.23 and a 200-day simple moving average of $122.75. 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 issued its quarterly 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. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. On average, analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in Live Nation Entertainment by 17.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock worth $65,000 after buying an additional 75 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Live Nation Entertainment by 19.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock worth $65,000 after purchasing an additional 80 shares during the period. Western Pacific Wealth Management LP grew its stake in Live Nation Entertainment by 10.4% in the 4th quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock valued at $112,000 after acquiring an additional 82 shares during the last quarter. Cromwell Holdings LLC grew its stake in Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after acquiring an additional 88 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in Live Nation Entertainment by 2.8% in the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

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.