The Goldman Sachs Group Boosts Live Nation Entertainment (NYSE:LYV) Price Target to $190.00

Live Nation Entertainment (NYSE:LYV) had its price objective lifted by equities research analysts at The Goldman Sachs Group from $175.00 to $190.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 14.54% from the stock’s previous close.

A number of other analysts have also recently commented on LYV. Rothschild & Co Redburn upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $166.00 to $193.00 in a research note on Friday, February 27th. Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Bank of America raised their target price on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Sanford C. Bernstein boosted their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Finally, UBS Group raised their price objective on Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $184.40.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $165.89 on Thursday. Live Nation Entertainment has a 12 month low of $112.88 and a 12 month high of $175.25. The stock has a fifty day moving average price of $150.83 and a 200-day moving average price of $150.44. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. The firm has a market cap of $38.95 billion, a PE ratio of -691.20 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same period in the prior year, the company earned $0.58 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $285,924,000. Principal Financial Group Inc. grew its position in Live Nation Entertainment by 22.1% during the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after buying an additional 1,763,511 shares during the period. Sachem Head Capital Management LP purchased a new position in Live Nation Entertainment in the fourth quarter valued at $173,380,000. Jericho Capital Asset Management L.P. boosted its stake in shares of Live Nation Entertainment by 37.9% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after acquiring an additional 1,099,350 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Live Nation Entertainment by 653.7% in the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock valued at $169,767,000 after purchasing an additional 1,033,289 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.