The Goldman Sachs Group Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Key Points

• Goldman Sachs raised its target for Live Nation (LYV) from $175 to $190 and maintained a "buy" rating, implying roughly a 14.5% upside from the prior close.
• Analyst sentiment is broadly positive — one Strong Buy, 19 Buys, 2 Holds and 1 Sell — producing a consensus rating of "Moderate Buy" with a consensus target of $184.40.
• In the latest quarter LYV reported EPS of -$1.06 (missing estimates by $0.06) while revenue of $6.31B beat expectations and rose 11.1% YoY; the company also has a high debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its target price lifted by research analysts at The Goldman Sachs Group from $175.00 to $190.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's target price would indicate a potential upside of 14.54% from the company's previous close.

A number of other brokerages have also commented on LYV. Bank of America increased their price target on Live Nation Entertainment from $170.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 20th. UBS Group raised their target price on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the company a "buy" rating in a report on Friday, February 20th. Wolfe Research upped their price target on shares of Live Nation Entertainment from $175.00 to $186.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. Guggenheim restated a "buy" rating and issued a $180.00 target price on shares of Live Nation Entertainment in a report on Monday. Finally, TD Cowen reaffirmed a "buy" rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $184.40.

Live Nation Entertainment Price Performance

LYV stock opened at $165.89 on Thursday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 1.00 and a current ratio of 1.00. The company's fifty day moving average price is $150.83 and its 200-day moving average price is $150.44. Live Nation Entertainment has a one year low of $112.88 and a one year high of $175.25. The company has a market capitalization of $38.95 billion, a PE ratio of -691.20 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.06). The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The business's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. On average, equities analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. Norges Bank bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $285,924,000. Principal Financial Group Inc. increased its holdings in 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 purchasing an additional 1,763,511 shares during the period. Sachem Head Capital Management LP bought a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $173,380,000. Jericho Capital Asset Management L.P. raised its holdings in shares of Live Nation Entertainment by 37.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company's stock valued at $569,503,000 after purchasing an additional 1,099,350 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Live Nation Entertainment by 653.7% in the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company's stock worth $169,767,000 after purchasing an additional 1,033,289 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

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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