JPMorgan Chase & Co. Increases Live Nation Entertainment (NYSE:LYV) Price Target to $150.00

Live Nation Entertainment (NYSE:LYV) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $137.00 to $150.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 10.33% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Macquarie upped their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup upped their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Benchmark raised their price target on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Guggenheim upped their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $144.33.

Live Nation Entertainment Price Performance

LYV stock opened at $135.95 on Thursday. The stock’s 50 day moving average price is $125.79 and its 200 day moving average price is $106.35. The firm has a market cap of $31.59 billion, a P/E ratio of 144.63, a PEG ratio of 3.65 and a beta of 1.37. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment has a 1 year low of $86.67 and a 1 year high of $141.18.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data 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 business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter last year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, sell-side analysts expect that Live Nation Entertainment will post 1.04 earnings per share for the current fiscal year.

Institutional Trading of Live Nation Entertainment

A number of institutional investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama lifted its stake in shares of Live Nation Entertainment by 8.6% during the third quarter. Retirement Systems of Alabama now owns 34,119 shares of the company’s stock worth $3,736,000 after purchasing an additional 2,697 shares in the last quarter. Tidal Investments LLC lifted its position in Live Nation Entertainment by 10.7% during the 3rd quarter. Tidal Investments LLC now owns 24,668 shares of the company’s stock worth $2,701,000 after acquiring an additional 2,386 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Live Nation Entertainment in the 3rd quarter worth approximately $499,000. World Investment Advisors LLC acquired a new stake in Live Nation Entertainment in the third quarter valued at approximately $38,000. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of Live Nation Entertainment by 2.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 45,037 shares of the company’s stock valued at $4,931,000 after purchasing an additional 1,016 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.