Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price objective upped by investment analysts at Deutsche Bank Aktiengesellschaft from $160.00 to $180.00 in a research report issued on Monday,MarketScreener reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 14.15% from the company’s previous close.

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, January 16th. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. Susquehanna raised their price target on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Sanford C. Bernstein upped their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $180.90.

Live Nation Entertainment Stock Performance

LYV traded up $2.46 on Monday, hitting $157.68. 172,199 shares of the company traded hands, compared to its average volume of 2,822,539. The company has a 50 day moving average of $147.22 and a 200-day moving average of $150.40. Live Nation Entertainment has a 12-month low of $112.88 and a 12-month high of $175.25. The stock has a market capitalization of $37.02 billion, a PE ratio of -656.10, a PEG ratio of 18.81 and a beta of 1.18. 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) last released its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate 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 company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same quarter last year, the company earned $0.58 EPS. Live Nation Entertainment’s revenue for the quarter was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Empowered Funds LLC increased its position in 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 buying an additional 547 shares in the last quarter. Wealthfront Advisers LLC increased its position in Live Nation Entertainment by 161.9% during the 2nd quarter. Wealthfront Advisers LLC now owns 16,612 shares of the company’s stock worth $2,513,000 after purchasing an additional 10,269 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Live Nation Entertainment by 4.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 17,439 shares of the company’s stock valued at $2,638,000 after purchasing an additional 688 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Live Nation Entertainment in the 2nd quarter valued at about $941,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Live Nation Entertainment by 4.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 24,566 shares of the company’s stock worth $3,716,000 after purchasing an additional 968 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

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.