Guggenheim Raises Live Nation Entertainment (NYSE:LYV) Price Target to $192.00

Live Nation Entertainment (NYSE:LYV) had its price target lifted by equities researchers at Guggenheim from $180.00 to $192.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 23.11% from the stock’s previous close.

A number of other research firms also recently commented on LYV. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Citizens Jmp assumed coverage on Live Nation Entertainment in a research report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 target price for the company. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Twenty-one investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.19.

Live Nation Entertainment Price Performance

Shares of LYV opened at $155.96 on Monday. Live Nation Entertainment has a 12 month low of $113.20 and a 12 month high of $175.25. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a fifty day moving average price of $153.82 and a 200 day moving average price of $148.57. The company has a market cap of $36.62 billion, a P/E ratio of -649.85 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business posted $0.58 EPS. Live Nation Entertainment’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director directly owned 48,030 shares of the company’s stock, valued at $7,966,736.10. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.01% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds have recently modified their holdings of LYV. Leonteq Securities AG acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $25,000. Nvest Wealth Strategies Inc. acquired a new stake in Live Nation Entertainment during the 4th quarter worth about $26,000. Ameriflex Group Inc. raised its holdings in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the period. Elyxium Wealth LLC purchased a new stake in Live Nation Entertainment during the fourth quarter valued at about $30,000. Finally, DV Equities LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth about $31,000. 74.52% of the stock is owned by hedge funds and other 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.