Citigroup Raises Live Nation Entertainment (NYSE:LYV) Price Target to $195.00

Key Points

• Citigroup has raised its price target for Live Nation Entertainment (NYSE:LYV) from $165 to $195, suggesting a potential upside of 15.24% from the current price, and maintaining a "buy" rating on the stock.
• Other analysts have also increased their target prices, with Oppenheimer and Benchmark setting targets at $180, indicating strong overall confidence from multiple sources in the company's performance.
• Live Nation reported $7.01 billion in revenue for the latest quarter, exceeding analyst expectations, although it missed earnings per share estimates by ($0.67).

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price target lifted by research analysts at Citigroup from $165.00 to $195.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm currently has a "buy" rating on the stock. Citigroup's price objective suggests a potential upside of 12.23% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Oppenheimer increased their price objective on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Sanford C. Bernstein began coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price for the company. Susquehanna set a $165.00 price objective on Live Nation Entertainment and gave the company a "positive" rating in a report on Tuesday, June 10th. Guggenheim restated a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Finally, Benchmark boosted their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Eighteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Live Nation Entertainment presently has an average rating of "Buy" and an average target price of $170.72.

Live Nation Entertainment Trading Down 0.2%

Live Nation Entertainment stock traded down $0.31 during mid-day trading on Tuesday, reaching $173.75. 1,408,354 shares of the company traded hands, compared to its average volume of 2,430,429. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The firm's 50 day moving average price is $156.53 and its 200 day moving average price is $142.79. The firm has a market capitalization of $40.74 billion, a price-to-earnings ratio of 75.22, a P/E/G ratio of 11.53 and a beta of 1.42. Live Nation Entertainment has a 52-week low of $97.40 and a 52-week high of $175.25.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the prior year, the company posted $1.03 EPS. Live Nation Entertainment's revenue was up 16.3% on a year-over-year basis. On average, analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nuveen LLC purchased a new position in Live Nation Entertainment during the first quarter worth about $201,501,000. Norges Bank bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $198,336,000. Independent Franchise Partners LLP increased its position in Live Nation Entertainment by 21.4% in the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock valued at $744,118,000 after acquiring an additional 1,004,574 shares during the period. Massachusetts Financial Services Co. MA increased its position in Live Nation Entertainment by 46.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock valued at $366,195,000 after acquiring an additional 884,745 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Live Nation Entertainment during the 2nd quarter valued at $128,704,000. 74.52% of the stock is currently owned by hedge funds and other 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.