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Live Nation Entertainment (NYSE:LYV) Price Target Raised to $192.00 at The Goldman Sachs Group

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Key Points

  • The Goldman Sachs Group raised its price target on Live Nation to $192 (from $190), implying roughly a 15% upside from the prior close.
  • Q1 was mixed: revenue beat at $3.79B (up ~12%) driven by strong concert/ticket demand, but the company posted a large EPS miss (‑$1.85 vs. ‑$0.35 expected) and a GAAP loss largely due to legal fees and reserves, creating near‑term negative reaction and legal/regulatory overhang.
  • Analyst coverage is predominantly positive (20 Buys, 2 Holds, 1 Sell) giving a consensus rating of “Moderate Buy” with an average target of $187.50; the stock trades around $166.90 with a market cap of about $39.2B.
  • MarketBeat previews top five stocks to own in June.

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its target price boosted by research analysts at The Goldman Sachs Group from $190.00 to $192.00 in a research note issued on Wednesday,MarketScreener reports. The Goldman Sachs Group's price objective would indicate a potential upside of 15.04% from the stock's previous close.

LYV has been the topic of several other research reports. TD Cowen reiterated a "buy" rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. UBS Group raised their price objective on Live Nation Entertainment from $164.00 to $181.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Guggenheim reiterated a "buy" rating and issued a $197.00 target price on shares of Live Nation Entertainment in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Live Nation Entertainment from $160.00 to $180.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Finally, Sanford C. Bernstein lifted their target price on Live Nation Entertainment from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. Twenty analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $187.50.

Check Out Our Latest Research Report on Live Nation Entertainment

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $166.90 on Wednesday. The stock's 50 day moving average is $157.18 and its 200 day moving average is $148.52. The company has a market capitalization of $39.24 billion, a P/E ratio of -698.25 and a beta of 1.11. Live Nation Entertainment has a twelve month low of $125.34 and a twelve month high of $175.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.57 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the company posted ($0.32) earnings per share. On average, equities research analysts predict that Live Nation Entertainment will post 1.39 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the transaction, the director directly owned 48,030 shares of the company's stock, valued at $7,966,736.10. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.89% of the company's stock.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of Live Nation Entertainment by 3.3% during the first quarter. Empowered Funds LLC now owns 17,376 shares of the company's stock worth $2,269,000 after purchasing an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Live Nation Entertainment by 15.8% during the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company's stock worth $121,000 after purchasing an additional 109 shares in the last quarter. Cerity Partners LLC raised its holdings in Live Nation Entertainment by 6.0% during the second quarter. Cerity Partners LLC now owns 27,496 shares of the company's stock worth $4,160,000 after purchasing an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Live Nation Entertainment by 15.9% during the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company's stock worth $3,983,000 after acquiring an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company's stock worth $334,000 after purchasing an additional 1,711 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Key Headlines Impacting Live Nation Entertainment

Here are the key news stories impacting Live Nation Entertainment this week:

Live Nation Entertainment Company Profile

(Get Free Report)

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

Read More

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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