Live Nation Entertainment (NYSE:LYV) Given New $175.00 Price Target at Bank of America

Live Nation Entertainment (NYSE:LYV) had its price target hoisted by analysts at Bank of America from $149.00 to $175.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 21.59% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Morgan Stanley boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Rosenblatt Securities reissued a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Benchmark reaffirmed a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Oppenheimer raised their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, 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 research note on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Live Nation Entertainment Trading Down 6.9 %

Shares of Live Nation Entertainment stock opened at $143.93 on Monday. 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 stock has a fifty day simple moving average of $139.69 and a 200 day simple moving average of $123.56. Live Nation Entertainment has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a market capitalization of $33.44 billion, a P/E ratio of 52.91, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. On average, sell-side analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in Live Nation Entertainment by 12.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock valued at $106,319,000 after buying an additional 107,844 shares in the last quarter. Empowered Funds LLC grew its stake in Live Nation Entertainment by 392.4% during the third quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock valued at $1,898,000 after acquiring an additional 13,815 shares in the last quarter. Natixis Advisors LLC increased its holdings in Live Nation Entertainment by 12.0% during the 3rd quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock worth $7,279,000 after acquiring an additional 7,136 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $441,000. Finally, Friedenthal Financial bought a new position in Live Nation Entertainment in the 4th quarter valued at $754,000. 74.52% of the stock is currently 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.