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

Live Nation Entertainment (NYSE:LYV) had its target price boosted by research analysts at Roth Mkm from $152.00 to $174.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Mkm’s price target points to a potential upside of 16.49% from the stock’s current price.

A number of other brokerages also recently issued reports on LYV. Benchmark reaffirmed a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a report on Tuesday, February 18th. TD Cowen lifted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group lifted their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.27.

Live Nation Entertainment Trading Down 1.9 %

NYSE:LYV opened at $149.37 on Friday. The firm has a market cap of $34.71 billion, a PE ratio of 54.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The stock has a fifty day moving average price of $139.23 and a 200 day moving average price of $122.52. Live Nation Entertainment has a 12-month low of $86.81 and a 12-month high of $157.75. 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 announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. 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 institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board increased its position in Live Nation Entertainment by 0.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company’s stock valued at $1,120,177,000 after acquiring an additional 44,703 shares during the period. Principal Financial Group Inc. increased its position in Live Nation Entertainment by 1.5% in the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock valued at $945,635,000 after acquiring an additional 105,648 shares during the period. Independent Franchise Partners LLP increased its position in Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the period. Geode Capital Management LLC increased its position in Live Nation Entertainment by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock worth $500,107,000 after purchasing an additional 108,293 shares during the period. Finally, Jericho Capital Asset Management L.P. increased its position in Live Nation Entertainment by 32.0% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company’s stock worth $415,447,000 after purchasing an additional 777,105 shares during the period. Institutional investors and hedge funds 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.