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

Key Points

• Live Nation Entertainment's price target has been raised to $180.00 by Oppenheimer, indicating a potential upside of 16.52% from the previous close.
• The company reported $7.01 billion in revenue for the most recent quarter, exceeding analysts' estimates, despite an earnings miss with EPS of $0.41.
• Institutional investors now hold 74.52% of Live Nation's stock, with significant recent increases in stakes by multiple institutional investors.

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price target lifted by stock analysts at Oppenheimer from $165.00 to $180.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price target would suggest a potential upside of 16.52% from the company's previous close.

Other analysts have also issued research reports about the stock. Morgan Stanley set a $180.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Rosenblatt Securities lowered their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price objective for the company. Benchmark lifted their price objective on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Friday. Finally, Wolfe Research lifted their price objective on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.41.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $154.48 on Tuesday. 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 firm's fifty day moving average price is $147.72 and its two-hundred day moving average price is $140.12. Live Nation Entertainment has a 1 year low of $91.25 and a 1 year high of $157.75. The firm has a market capitalization of $36.22 billion, a P/E ratio of 66.87, a price-to-earnings-growth ratio of 5.06 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 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% compared to the same quarter last year. As a group, research analysts anticipate that Live Nation Entertainment will post 2.38 EPS 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 stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the transaction, the executive vice president directly owned 189,456 shares in the company, valued at $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.72% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Clearstead Trust LLC lifted its stake in Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company's stock worth $25,000 after acquiring an additional 136 shares during the period. Measured Risk Portfolios Inc. purchased a new stake in Live Nation Entertainment in the fourth quarter worth $29,000. Wayfinding Financial LLC purchased a new position in Live Nation Entertainment during the first quarter valued at $30,000. Chilton Capital Management LLC purchased a new position in Live Nation Entertainment during the first quarter valued at $33,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Live Nation Entertainment during the first quarter valued at $42,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.