Benchmark Forecasts Strong Price Appreciation for Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment (NYSE:LYV) had its target price raised by research analysts at Benchmark from $144.00 to $160.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 21.09% from the company’s previous close.

Several other brokerages also recently commented on LYV. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group increased their price target on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Oppenheimer increased their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Bank of America upped their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Stock Performance

LYV stock opened at $132.13 on Thursday. The firm has a 50 day simple moving average of $127.26 and a 200 day simple moving average of $107.32. Live Nation Entertainment has a 52 week low of $86.67 and a 52 week high of $141.18. The stock has a market cap of $30.70 billion, a P/E ratio of 140.56, 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 quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share. Research analysts anticipate that Live Nation Entertainment will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Live Nation Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in LYV. Select Equity Group L.P. increased its position in Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after buying an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after acquiring an additional 155,920 shares during the period. Principal Financial Group Inc. raised its stake in Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after acquiring an additional 87,032 shares during the period. Geode Capital Management LLC lifted its holdings in Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after purchasing an additional 321,832 shares in the last quarter. Finally, D1 Capital Partners L.P. boosted its position in shares of Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after purchasing an additional 1,093,000 shares during the period. Institutional investors own 74.52% of the company’s stock.

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.