JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment (NYSE:LYV) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $150.00 to $170.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.37% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. TD Cowen lifted their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Macquarie increased their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Finally, Citigroup upped their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.80.

Live Nation Entertainment Stock Up 1.1 %

Shares of LYV stock traded up $1.71 during trading on Friday, hitting $154.03. 591,823 shares of the company were exchanged, compared to its average volume of 1,855,671. The firm has a market capitalization of $35.79 billion, a price-to-earnings ratio of 163.86, a P/E/G ratio of 1.83 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day simple moving average is $138.96 and its 200 day simple moving average is $121.87. Live Nation Entertainment has a twelve month low of $86.81 and a twelve month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.56 earnings per share 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 analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. As a group, analysts forecast that Live Nation Entertainment will post 0.99 EPS for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Institutional investors have recently made changes to their positions in the business. Creative Planning boosted its stake in shares of Live Nation Entertainment by 3.2% during the 3rd quarter. Creative Planning now owns 29,405 shares of the company’s stock worth $3,220,000 after acquiring an additional 904 shares during the period. Blue Trust Inc. increased its holdings in shares of Live Nation Entertainment by 385.3% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $58,000 after purchasing an additional 420 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Live Nation Entertainment by 17.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,882 shares of the company’s stock worth $316,000 after buying an additional 434 shares during the last quarter. Private Advisor Group LLC grew its stake in Live Nation Entertainment by 2.8% in the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after buying an additional 89 shares during the last quarter. Finally, Hartford Investment Management Co. lifted its position in Live Nation Entertainment by 8.0% during the third quarter. Hartford Investment Management Co. now owns 9,880 shares of the company’s stock worth $1,082,000 after acquiring an additional 730 shares during the last quarter. Institutional investors 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.