The Goldman Sachs Group Forecasts Strong Price Appreciation for Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment (NYSE:LYV) had its price target raised by equities researchers at The Goldman Sachs Group from $148.00 to $166.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 9.99% from the stock’s previous close.

A number of other equities analysts also recently issued reports on LYV. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Oppenheimer raised their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. TD Cowen upped their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Bank of America raised their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.60.

Live Nation Entertainment Stock Up 0.8 %

LYV stock traded up $1.23 during trading on Thursday, reaching $150.92. 671,306 shares of the stock were exchanged, compared to its average volume of 1,812,296. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a twelve month low of $86.81 and a twelve month high of $152.11. The firm’s 50 day moving average is $136.76 and its 200 day moving average is $119.57. The firm has a market cap of $35.07 billion, a P/E ratio of 160.55, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 EPS. As a group, research analysts forecast that Live Nation Entertainment will post 0.99 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the third quarter worth about $31,000. World Investment Advisors LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth approximately $38,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $40,000. Reston Wealth Management LLC bought a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $41,000. Finally, Morse Asset Management Inc bought a new stake in Live Nation Entertainment in the third quarter valued at $42,000. Hedge funds and other 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.