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

Live Nation Entertainment (NYSE:LYV) had its price objective boosted by JPMorgan Chase & Co. from $150.00 to $170.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 10.37% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Guggenheim lifted their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Evercore ISI upped their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Oppenheimer upped 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. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $152.80.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV traded up $1.71 during mid-day trading on Friday, hitting $154.03. 591,823 shares of the company were exchanged, compared to its average volume of 1,855,671. The firm has a market cap of $35.79 billion, a price-to-earnings ratio of 163.86, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38. The stock has a 50 day simple moving average of $138.96 and a 200-day simple moving average of $121.87. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a 1-year low of $86.81 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. On average, sell-side analysts forecast that Live Nation Entertainment will post 0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Creative Planning boosted its stake in Live Nation Entertainment by 3.2% during the 3rd quarter. Creative Planning now owns 29,405 shares of the company’s stock valued at $3,220,000 after acquiring an additional 904 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Live Nation Entertainment by 385.3% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $58,000 after purchasing an additional 420 shares during the period. Sequoia Financial Advisors LLC raised its stake in Live Nation Entertainment by 17.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,882 shares of the company’s stock valued at $316,000 after acquiring an additional 434 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after purchasing an additional 89 shares during the period. Finally, Hartford Investment Management Co. lifted its stake in shares of Live Nation Entertainment by 8.0% in the 3rd quarter. Hartford Investment Management Co. now owns 9,880 shares of the company’s stock worth $1,082,000 after acquiring an additional 730 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

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.