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

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 - Free Report) had its price target hoisted by Oppenheimer from $165.00 to $180.00 in a research report released on Tuesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research analysts have also weighed in on LYV. Wolfe Research lifted their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Rosenblatt Securities decreased their target price on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Sanford C. Bernstein initiated coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price for the company. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a report on Thursday, July 24th. Finally, Susquehanna set a $165.00 price objective on Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.41.

Live Nation Entertainment Price Performance

Shares of NYSE LYV traded down $1.01 during mid-day trading on Tuesday, hitting $160.59. 2,891,877 shares of the stock traded hands, compared to its average volume of 2,156,583. The company has a market cap of $37.65 billion, a PE ratio of 69.52, a price-to-earnings-growth ratio of 9.75 and a beta of 1.46. Live Nation Entertainment has a twelve month low of $92.57 and a twelve month high of $162.95. The firm has a 50 day simple moving average of $149.21 and a two-hundred day simple moving average of $140.65. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88.

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

Institutional Investors Weigh In On Live Nation Entertainment

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