Bank of America Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its target price upped by equities research analysts at Bank of America from $149.00 to $175.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 17.16% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Guggenheim increased their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Benchmark restated a “buy” rating and issued a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday. Evercore ISI increased their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, TD Cowen boosted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $156.00.

Live Nation Entertainment Stock Down 1.9 %

Shares of LYV opened at $149.37 on Monday. 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. The company has a market capitalization 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 business’s 50 day moving average is $139.23 and its 200 day moving average is $122.75.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Research analysts expect that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Measured Risk Portfolios Inc. bought a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $29,000. Brooklyn Investment Group bought a new position in Live Nation Entertainment in the 3rd quarter valued at $31,000. World Investment Advisors LLC purchased a new stake in Live Nation Entertainment in the third quarter worth $38,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Live Nation Entertainment during the fourth quarter worth $40,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the third quarter valued at $41,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.