Live Nation Entertainment (NYSE:LYV) Price Target Raised to $206.00

Key Points

• Wolfe Research raised its price target on Live Nation to $206 and maintained an "outperform" rating, implying roughly a 23.43% upside from the current share price.
• Analyst sentiment is broadly bullish—21 Buys, 2 Holds and 1 Sell—with an average price target of $186.14 and several firms (Goldman Sachs, Rothschild, Evercore, JPMorgan) recently lifting targets.
• Live Nation beat revenue estimates ($6.31B vs. $6.12B) with revenue up 11.1% YoY but missed EPS (‑$1.06 vs. ‑$1.00); the company has a negative P/E and high leverage (debt-to-equity ~8.51).

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its price target boosted by equities researchers at Wolfe Research from $205.00 to $206.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has an "outperform" rating on the stock. Wolfe Research's price target points to a potential upside of 23.43% from the company's current price.

LYV has been the subject of a number of other reports. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $175.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, March 12th. Rothschild & Co Redburn raised Live Nation Entertainment from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $166.00 to $193.00 in a report on Friday, February 27th. Evercore restated an "outperform" rating and issued a $198.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Roth Mkm reaffirmed a "buy" rating and set a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, February 20th. Twenty-one equities research 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. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average price target of $186.14.

Live Nation Entertainment Stock Performance

LYV opened at $166.90 on Monday. Live Nation Entertainment has a 12-month low of $122.08 and a 12-month high of $175.25. The business has a 50 day moving average of $155.68 and a 200-day moving average of $148.50. The stock has a market cap of $39.19 billion, a price-to-earnings ratio of -695.42 and a beta of 1.15. 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 issued its earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the business earned $0.58 EPS. Live Nation Entertainment's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts expect that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the company's stock in a transaction dated Tuesday, March 10th. The stock was 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 in the company, valued at $7,966,736.10. This represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Live Nation Entertainment during the fourth quarter valued at approximately $285,924,000. Principal Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company's stock worth $1,589,196,000 after acquiring an additional 1,763,511 shares during the last quarter. Sachem Head Capital Management LP purchased a new position in Live Nation Entertainment in the fourth quarter worth $173,380,000. Jericho Capital Asset Management L.P. increased its stake in Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company's stock valued at $569,503,000 after acquiring an additional 1,099,350 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Live Nation Entertainment by 653.7% in the fourth quarter. First Trust Advisors LP now owns 1,191,347 shares of the company's stock valued at $169,767,000 after acquiring an additional 1,033,289 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

About Live Nation Entertainment

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.

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