Live Nation Entertainment (NYSE:LYV) Given New $170.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has raised its price target for Live Nation Entertainment (NYSE:LYV) from $168.00 to $170.00, maintaining a "buy" rating and indicating a potential 8.96% upside from the previous close.
• Other analysts, including Oppenheimer and Citigroup, have also increased their price targets for the stock, with Oppenheimer setting a target of $180.00 and Citigroup at $195.00.
• Live Nation reported an earnings miss with $0.41 EPS for the last quarter, falling short of analyst estimates, despite a revenue increase of 16.3% year over year.

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $168.00 to $170.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 8.96% from the stock's previous close.

Other research analysts also recently issued research 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 research report on Tuesday, August 12th. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the stock a "positive" rating in a research note on Tuesday, June 10th. Rothschild Redb downgraded Live Nation Entertainment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Moffett Nathanson assumed coverage on Live Nation Entertainment in a research note on Monday, August 18th. They set a "buy" rating and a $195.00 price target for the company. Finally, Citigroup raised their price objective on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, September 9th. Eighteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $171.42.

Live Nation Entertainment Stock Performance

LYV stock opened at $156.01 on Thursday. The stock has a market capitalization of $36.58 billion, a PE ratio of 67.54, a price-to-earnings-growth ratio of 10.65 and a beta of 1.40. The stock's 50 day simple moving average is $161.58 and its 200 day simple moving average is $146.54. Live Nation Entertainment has a 12-month low of $109.15 and a 12-month high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, research analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently made changes to their positions in LYV. Robeco Institutional Asset Management B.V. purchased a new position in shares of Live Nation Entertainment during the first quarter valued at approximately $1,153,000. Praxis Investment Management Inc. grew its position in Live Nation Entertainment by 45.2% in the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock valued at $726,000 after acquiring an additional 1,730 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Live Nation Entertainment during the first quarter worth $272,000. Teacher Retirement System of Texas purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at $3,081,000. Finally, Personal CFO Solutions LLC purchased a new position in Live Nation Entertainment in the 1st quarter worth about $277,000. 74.52% of the stock is 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.

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