JPMorgan Chase & Co. Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price objective upped by JPMorgan Chase & Co. from $150.00 to $170.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim boosted their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Macquarie boosted their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Citigroup boosted their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Bank of America boosted their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, TD Cowen upped their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.27.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $149.37 on Friday. Live Nation Entertainment has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The business’s 50 day simple moving average is $139.23 and its 200 day simple moving average is $122.30. The company has a market cap of $34.71 billion, a price-to-earnings ratio of 158.91, a PEG ratio of 1.83 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Sell-side analysts forecast that Live Nation Entertainment will post 0.99 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. Creative Planning grew its position in Live Nation Entertainment by 3.2% in the third quarter. Creative Planning now owns 29,405 shares of the company’s stock worth $3,220,000 after acquiring an additional 904 shares in the last quarter. Blue Trust Inc. grew its position in Live Nation Entertainment by 385.3% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $58,000 after acquiring an additional 420 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Live Nation Entertainment by 17.7% in the third quarter. Sequoia Financial Advisors LLC now owns 2,882 shares of the company’s stock worth $316,000 after acquiring an additional 434 shares in the last quarter. Private Advisor Group LLC grew its position in Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after acquiring an additional 89 shares in the last quarter. Finally, Hartford Investment Management Co. boosted its position in Live Nation Entertainment by 8.0% during the third quarter. Hartford Investment Management Co. now owns 9,880 shares of the company’s stock valued at $1,082,000 after buying an additional 730 shares during the period. 74.52% of the stock is currently 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.