Benchmark Raises Live Nation Entertainment (NYSE:LYV) Price Target to $180.00

Key Points

• Benchmark raised the price target for Live Nation Entertainment (LYV) from $178.00 to $180.00, indicating a potential upside of 17.74% from the company's previous close.
• Live Nation's stock recently traded up by 3.1%, reaching $152.88, with analysts projecting earnings per share of 2.38 for the current year.
• Despite a quarterly earnings miss, where the company reported $0.41 earnings per share compared to an expected $1.08, revenue exceeded estimates at $7.01 billion, marking a 16.3% increase year-over-year.

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price target lifted by equities research analysts at Benchmark from $178.00 to $180.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Benchmark's price objective would indicate a potential upside of 17.74% from the company's previous close.

A number of other equities analysts have also recently weighed in on LYV. Roth Mkm lowered their target price on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Rosenblatt Securities lowered their target price on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wolfe Research lifted their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a research note on Thursday, July 24th. Finally, Sanford C. Bernstein began coverage on Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $165.94.

Live Nation Entertainment Stock Up 3.1%

Shares of LYV stock traded up $4.61 during mid-day trading on Friday, reaching $152.88. 1,137,222 shares of the company were exchanged, compared to its average volume of 2,489,256. The company has a market capitalization of $35.43 billion, a P/E ratio of 52.48, a P/E/G ratio of 4.94 and a beta of 1.46. The business's 50 day simple moving average is $147.08 and its 200 day simple moving average is $139.91. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. Live Nation Entertainment has a fifty-two week low of $90.69 and a fifty-two week high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. Live Nation Entertainment's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Research analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the transaction, the executive vice president owned 189,456 shares of the company's stock, valued at $27,922,025.28. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.01% of the stock is owned by company insiders.

Institutional Trading of Live Nation Entertainment

A number of institutional investors have recently modified their holdings of LYV. Measured Risk Portfolios Inc. acquired a new stake in Live Nation Entertainment during the fourth quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $30,000. Chilton Capital Management LLC purchased a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $33,000. N.E.W. Advisory Services LLC purchased a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $42,000. Finally, GW&K Investment Management LLC boosted its position in shares of Live Nation Entertainment by 690.2% during the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after buying an additional 283 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

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.

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