Live Nation Entertainment (NYSE:LYV) Given New $165.00 Price Target at The Goldman Sachs Group

Live Nation Entertainment (NYSE:LYV) had its target price hoisted by investment analysts at The Goldman Sachs Group from $160.00 to $165.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 15.49% from the company’s previous close.

LYV has been the topic of a number of other reports. Susquehanna upped their price objective on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Roth Capital cut their target price on Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. UBS Group initiated coverage on Live Nation Entertainment in a research note on Tuesday, November 25th. They set a “buy” rating and a $164.00 price objective on the stock. Guggenheim dropped their price target on shares of Live Nation Entertainment from $175.00 to $172.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Eighteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.25.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $142.88 on Friday. Live Nation Entertainment has a 1-year low of $112.88 and a 1-year high of $175.25. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41. The firm has a market cap of $33.54 billion, a P/E ratio of 103.69 and a beta of 1.19. The business’s 50 day moving average is $139.76 and its 200-day moving average is $150.55.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.81). The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. Live Nation Entertainment’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 earnings per share. Equities research analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Institutional Trading of Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the business. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Live Nation Entertainment in the third quarter valued at about $41,000. CIBC Private Wealth Group LLC lifted its holdings in Live Nation Entertainment by 5.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 585,304 shares of the company’s stock worth $95,639,000 after buying an additional 32,061 shares during the period. CIBC Bancorp USA Inc. purchased a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $19,640,000. WBI Investments LLC purchased a new stake in Live Nation Entertainment in the third quarter worth $542,000. Finally, Coldstream Capital Management Inc. boosted its holdings in Live Nation Entertainment by 14.9% in the third quarter. Coldstream Capital Management Inc. now owns 2,736 shares of the company’s stock valued at $447,000 after acquiring an additional 355 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.