Roth Mkm Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its target price upped by research analysts at Roth Mkm from $152.00 to $174.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s target price points to a potential upside of 12.82% from the stock’s current price.

A number of other brokerages have also issued reports on LYV. TD Cowen raised their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Citigroup increased their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Guggenheim lifted their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $154.27.

Live Nation Entertainment Price Performance

Shares of LYV stock traded up $1.90 during mid-day trading on Friday, reaching $154.22. The stock had a trading volume of 1,611,589 shares, compared to its average volume of 1,878,755. The company has a market cap of $35.83 billion, a P/E ratio of 164.20, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38. Live Nation Entertainment has a 12-month low of $86.81 and a 12-month high of $157.75. The business has a 50-day simple moving average of $138.96 and a 200 day simple moving average of $121.87. 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 (NYSE:LYV) last released its earnings results on Thursday, February 20th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. On average, sell-side analysts anticipate that Live Nation Entertainment will post 0.99 earnings per share for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Live Nation Entertainment by 12.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock worth $106,319,000 after purchasing an additional 107,844 shares during the last quarter. Empowered Funds LLC lifted its holdings in Live Nation Entertainment by 392.4% in the third quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock worth $1,898,000 after acquiring an additional 13,815 shares during the last quarter. Natixis Advisors LLC boosted its stake in Live Nation Entertainment by 12.0% in the third quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock valued at $7,279,000 after acquiring an additional 7,136 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Live Nation Entertainment during the third quarter worth about $441,000. Finally, Friedenthal Financial bought a new position in shares of Live Nation Entertainment in the fourth quarter worth $754,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.