Live Nation Entertainment (NYSE:LYV) Stock Price Expected to Rise, Citigroup Analyst Says

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by Citigroup from $165.00 to $195.00 in a research note released on Tuesday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the company. Oppenheimer raised their target price on Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Wolfe Research raised their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an “outperform” rating in a research report on Tuesday, June 10th. Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the company a “positive” rating in a research report on Tuesday, June 10th. Sanford C. Bernstein began coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 price objective for the company. Finally, Benchmark lifted their price objective on Live Nation Entertainment from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Eighteen analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $170.72.

Live Nation Entertainment Trading Up 1.9%

NYSE LYV opened at $174.13 on Tuesday. The firm has a market capitalization of $40.83 billion, a P/E ratio of 75.38, a PEG ratio of 11.53 and a beta of 1.42. The business has a fifty day simple moving average of $156.53 and a 200 day simple moving average of $142.79. Live Nation Entertainment has a 12 month low of $96.75 and a 12 month high of $174.42. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, analysts predict 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 LYV. Clearstead Trust LLC raised its holdings in shares of Live Nation Entertainment by 469.0% during the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after buying an additional 136 shares in the last quarter. Measured Risk Portfolios Inc. purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in shares of Live Nation Entertainment during the 1st quarter valued at about $30,000. Chilton Capital Management LLC purchased a new position in shares of Live Nation Entertainment during the 1st quarter valued at about $33,000. Finally, GW&K Investment Management LLC raised its holdings in shares of Live Nation Entertainment by 690.2% during the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after buying an additional 283 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other 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.