Live Nation Entertainment (NYSE:LYV) Given New $166.00 Price Target at The Goldman Sachs Group

Live Nation Entertainment (NYSE:LYV) had its price objective hoisted by The Goldman Sachs Group from $148.00 to $166.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on LYV. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Evercore ISI increased their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Benchmark increased their price target on Live Nation Entertainment from $144.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Roth Mkm increased their price target on Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price target 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. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $146.60.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $152.58 on Thursday. 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 firm has a market cap of $35.45 billion, a PE ratio of 162.32, a P/E/G ratio of 1.73 and a beta of 1.38. Live Nation Entertainment has a 12 month low of $86.81 and a 12 month high of $152.93. The stock has a fifty day moving average price of $137.11 and a 200-day moving average price of $119.80.

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

Institutional Trading of Live Nation Entertainment

Institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new stake in Live Nation Entertainment in the third quarter valued at approximately $31,000. World Investment Advisors LLC acquired a new stake in Live Nation Entertainment in the third quarter valued at approximately $38,000. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $40,000. Reston Wealth Management LLC acquired a new stake in Live Nation Entertainment in the third quarter valued at approximately $41,000. Finally, Morse Asset Management Inc purchased a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $42,000. 74.52% of the stock is owned by institutional investors and hedge funds.

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.