Live Nation Entertainment (NYSE:LYV) Price Target Raised to $160.00

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by Benchmark from $144.00 to $160.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the stock. 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 report on Tuesday, November 12th. Bank of America lifted their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Oppenheimer increased their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Stock Up 0.8 %

LYV stock opened at $133.28 on Thursday. The stock has a market capitalization of $30.97 billion, a P/E ratio of 141.79, a P/E/G ratio of 3.65 and a beta of 1.37. 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 has a 1-year low of $86.67 and a 1-year high of $141.18. The business has a fifty day moving average price of $128.02 and a 200-day moving average price of $107.76.

Live Nation Entertainment (NYSE:LYV) last posted its 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. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the prior year, the business earned $1.78 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities analysts forecast that Live Nation Entertainment will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

Several large investors have recently made changes to their positions in LYV. Select Equity Group L.P. raised its stake in Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. D1 Capital Partners L.P. grew its holdings in Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after buying an additional 1,093,000 shares in the last quarter. ValueAct Holdings L.P. bought a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $111,094,000. PointState Capital LP purchased a new position in shares of Live Nation Entertainment in the third quarter worth $102,762,000. Finally, Vulcan Value Partners LLC boosted its position in shares of Live Nation Entertainment by 46.5% during the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after acquiring an additional 855,197 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other 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.