Live Nation Entertainment (NYSE:LYV) Reaches New 12-Month High Following Analyst Upgrade

Shares of Live Nation Entertainment, Inc. (NYSE:LYV) hit a new 52-week high during mid-day trading on Wednesday after Morgan Stanley raised their price target on the stock from $150.00 to $170.00. Morgan Stanley currently has an overweight rating on the stock. Live Nation Entertainment traded as high as $155.05 and last traded at $154.73, with a volume of 1783255 shares changing hands. The stock had previously closed at $153.76.

A number of other research analysts have also issued reports on the company. Guggenheim lifted their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Evercore ISI boosted their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. TD Cowen lifted their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $151.47.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors have recently bought and sold shares of LYV. Mackenzie Financial Corp lifted its position in shares of Live Nation Entertainment by 655.9% in the fourth quarter. Mackenzie Financial Corp now owns 90,822 shares of the company’s stock worth $11,761,000 after purchasing an additional 78,807 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $9,449,000. Neo Ivy Capital Management acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $102,000. Vise Technologies Inc. purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at $334,000. Finally, JT Stratford LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth $269,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Down 0.9 %

The firm has a market capitalization of $35.37 billion, a PE ratio of 161.93, a price-to-earnings-growth ratio of 1.79 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a fifty day moving average of $138.96 and a 200-day moving average of $121.87.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 0.99 earnings per share 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.