Live Nation Entertainment (NYSE:LYV) Price Target Raised to $180.00

Live Nation Entertainment (NYSE:LYV) had its price target upped by Oppenheimer from $165.00 to $180.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Rosenblatt Securities dropped their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a report on Thursday, July 24th. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the company a “positive” rating in a report on Tuesday, June 10th. Benchmark raised their price target on Live Nation Entertainment from $178.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, Wolfe Research raised their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $167.41.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $161.71 on Tuesday. The stock’s 50-day simple moving average is $148.89 and its 200 day simple moving average is $140.53. The stock has a market capitalization of $37.92 billion, a price-to-earnings ratio of 70.00, a price-to-earnings-growth ratio of 9.58 and a beta of 1.46. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment has a 52-week low of $92.57 and a 52-week high of $162.95.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. Research analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently modified their holdings of the company. Fifth Third Wealth Advisors LLC raised its holdings in shares of Live Nation Entertainment by 2.5% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock valued at $428,000 after buying an additional 69 shares in the last quarter. Gilbert & Cook Inc. grew its position in Live Nation Entertainment by 1.4% during the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock worth $723,000 after acquiring an additional 75 shares during the last quarter. Central Pacific Bank Trust Division grew its position in Live Nation Entertainment by 1.8% during the 2nd quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock worth $835,000 after acquiring an additional 97 shares during the last quarter. Trust Asset Management LLC grew its position in Live Nation Entertainment by 5.8% during the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after acquiring an additional 98 shares during the last quarter. Finally, Callan Family Office LLC grew its position in Live Nation Entertainment by 1.8% during the 1st quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock worth $732,000 after acquiring an additional 98 shares during the last quarter. 74.52% of the stock is 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.