Live Nation Entertainment (NYSE:LYV) Trading 4.4% Higher on Analyst Upgrade

Live Nation Entertainment, Inc. (NYSE:LYV) shares traded up 4.4% during mid-day trading on Monday after Bank of America raised their price target on the stock from $149.00 to $175.00. Bank of America currently has a buy rating on the stock. Live Nation Entertainment traded as high as $154.90 and last traded at $155.91. 656,805 shares changed hands during trading, a decline of 66% from the average session volume of 1,953,454 shares. The stock had previously closed at $149.40.

LYV has been the subject of several other reports. Citigroup upped their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Rosenblatt Securities restated a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. TD Cowen upped their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its position in shares of Live Nation Entertainment by 0.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company’s stock worth $1,120,177,000 after acquiring an additional 44,703 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Live Nation Entertainment by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after acquiring an additional 105,648 shares during the last quarter. Independent Franchise Partners LLP raised its position in shares of Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after acquiring an additional 3,168,210 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Live Nation Entertainment by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock worth $500,107,000 after acquiring an additional 108,293 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. raised its position in shares of Live Nation Entertainment by 32.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company’s stock worth $415,447,000 after acquiring an additional 777,105 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Up 3.5 %

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 market capitalization of $35.92 billion, a P/E ratio of 56.84, a P/E/G ratio of 1.81 and a beta of 1.38. The stock has a 50-day moving average price of $139.57 and a 200-day moving average price of $123.19.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. On average, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS 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.