JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Live Nation Entertainment (NYSE:LYV) Stock

Live Nation Entertainment (NYSE:LYV) had its price target hoisted by JPMorgan Chase & Co. from $150.00 to $170.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on the stock. Morgan Stanley lifted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday. Oppenheimer lifted their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. TD Cowen lifted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $154.27.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $149.37 on Friday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment has a one year low of $86.81 and a one year high of $157.75. The company has a 50-day simple moving average of $139.23 and a two-hundred day simple moving average of $122.30. The firm has a market capitalization of $34.71 billion, a PE ratio of 158.91, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. On average, analysts anticipate that Live Nation Entertainment will post 0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Live Nation Entertainment

A number of large investors have recently added to or reduced their stakes in LYV. Measured Risk Portfolios Inc. bought a new stake in Live Nation Entertainment in the 4th quarter worth approximately $29,000. Brooklyn Investment Group bought a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $31,000. World Investment Advisors LLC bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $38,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $40,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $41,000. 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.