Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $165.00 to $195.00. Citigroup currently has a buy rating on the stock. Live Nation Entertainment traded as high as $169.66 and last traded at $169.21, with a volume of 2333575 shares trading hands. The stock had previously closed at $163.42.
Other equities research analysts also recently issued reports about the company. Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Benchmark upped their price objective on Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Guggenheim reiterated a "buy" rating and set a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Moffett Nathanson started coverage on Live Nation Entertainment in a research report on Monday, August 18th. They set a "buy" rating and a $195.00 price objective for the company. Finally, Oppenheimer upped their price objective on Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Eighteen research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $170.72.
Check Out Our Latest Research Report on Live Nation Entertainment
Hedge Funds Weigh In On Live Nation Entertainment
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearstead Trust LLC lifted its stake in shares of Live Nation Entertainment by 469.0% in the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company's stock valued at $25,000 after purchasing an additional 136 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Live Nation Entertainment during the 1st quarter worth approximately $30,000. Chilton Capital Management LLC bought a new stake in shares of Live Nation Entertainment during the 1st quarter worth approximately $33,000. N.E.W. Advisory Services LLC bought a new stake in shares of Live Nation Entertainment during the 1st quarter worth approximately $42,000. Finally, GW&K Investment Management LLC lifted its stake in shares of Live Nation Entertainment by 690.2% during the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after acquiring an additional 283 shares during the last quarter. 74.52% of the stock is owned by institutional investors.
Live Nation Entertainment Price Performance
The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The stock has a market capitalization of $40.74 billion, a P/E ratio of 75.22, a price-to-earnings-growth ratio of 11.53 and a beta of 1.42. The stock has a 50 day moving average of $156.53 and a 200-day moving average of $142.79.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued 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 return on equity of 105.85% and a net margin of 3.88%.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 prior year, the business posted $1.03 earnings per share. Live Nation Entertainment's revenue was up 16.3% on a year-over-year basis. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.
About Live Nation Entertainment
(
Get Free Report)
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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