Live Nation Entertainment (NYSE:LYV) Reaches New 1-Year High on Analyst Upgrade

Live Nation Entertainment, Inc. (NYSE:LYV)’s stock price reached a new 52-week high during mid-day trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $148.00 to $166.00. The Goldman Sachs Group currently has a buy rating on the stock. Live Nation Entertainment traded as high as $152.27 and last traded at $152.11, with a volume of 1599831 shares. The stock had previously closed at $149.69.

A number of other brokerages also recently issued reports on LYV. Oppenheimer upped their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Bank of America increased their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Evercore ISI boosted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Macquarie raised their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, Roth Mkm boosted their target price on Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $146.60.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently modified their holdings of LYV. Principal Financial Group Inc. lifted its position in Live Nation Entertainment by 1.5% in the fourth quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock valued at $945,635,000 after purchasing an additional 105,648 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Live Nation Entertainment by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock valued at $500,107,000 after buying an additional 108,293 shares during the period. Cantillon Capital Management LLC boosted its stake in shares of Live Nation Entertainment by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock valued at $385,575,000 after buying an additional 15,891 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Live Nation Entertainment by 19.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock worth $353,946,000 after acquiring an additional 445,704 shares during the period. Finally, Groupama Asset Managment purchased a new position in Live Nation Entertainment in the fourth quarter worth $259,000,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 1.9 %

The company has a market cap of $35.45 billion, a price-to-earnings ratio of 162.32, a P/E/G ratio of 1.73 and a beta of 1.38. The business has a fifty day simple moving average of $136.76 and a 200 day simple moving average of $119.57. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 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 firm had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter last year, the business earned $1.78 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post 0.99 EPS for the current fiscal year.

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.