Live Nation Entertainment (NYSE:LYV) Hits New 52-Week High Following Analyst Upgrade

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) hit 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 changing hands. The stock had previously closed at $149.69.

Several other analysts also recently weighed in on the stock. Benchmark boosted their price target on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Guggenheim boosted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Cowen boosted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LYV. Brooklyn Investment Group purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth $31,000. World Investment Advisors LLC acquired a new position in Live Nation Entertainment in the third quarter valued at about $38,000. Murphy & Mullick Capital Management Corp purchased a new position in Live Nation Entertainment during the fourth quarter worth about $40,000. Reston Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment during the third quarter valued at about $41,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

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 stock has a market capitalization of $35.45 billion, a price-to-earnings ratio of 162.32, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. The firm’s fifty day moving average price is $136.76 and its 200 day moving average price is $119.57.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 EPS. Analysts forecast 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.