Today: The Live Nation Entertainment Inc. (LYV) Price Target Raised to $32.00 at Citigroup Inc.

The Live Nation Entertainment Inc. (LYV) Price Target Raised to $32.00 at Citigroup Inc.

Live Nation Entertainment Inc. (NYSE:LYV) had its price target lifted by Citigroup Inc. from $29.00 to $32.00 in a research note released on Wednesday. Citigroup Inc. currently has a buy rating on the stock.

A number of other research firms also recently weighed in on LYV. Stephens initiated coverage on Live Nation Entertainment in a research report on Thursday, October 6th. They set an equal weight rating and a $30.00 target price on the stock. They noted that the move was a valuation call. JPMorgan Chase & Co. initiated coverage on Live Nation Entertainment in a report on Thursday, August 18th. They set an overweight rating and a $34.00 price objective on the stock. Zacks Investment Research raised Live Nation Entertainment from a hold rating to a strong-buy rating and set a $32.00 price objective on the stock in a report on Wednesday. Albert Fried & Company reaffirmed a buy rating and set a $34.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, July 26th. Finally, Jefferies Group reaffirmed a buy rating and set a $31.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 29th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $31.38.

Shares of Live Nation Entertainment (NYSE:LYV) traded down 1.112% during trading on Wednesday, hitting $27.135. The stock had a trading volume of 171,362 shares. The stock’s market capitalization is $5.48 billion. Live Nation Entertainment has a 52 week low of $18.77 and a 52 week high of $29.68. The stock’s 50 day moving average is $26.95 and its 200 day moving average is $24.59.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, July 28th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Live Nation Entertainment had a return on equity of 0.27% and a net margin of 0.05%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business earned $0.06 earnings per share. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, equities research analysts expect that Live Nation Entertainment will post ($0.10) earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB acquired a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $10,243,000. Renaissance Technologies LLC increased its position in shares of Live Nation Entertainment by 41.0% in the first quarter. Renaissance Technologies LLC now owns 2,725,166 shares of the company’s stock valued at $60,798,000 after buying an additional 792,000 shares during the last quarter. Aperio Group LLC increased its position in shares of Live Nation Entertainment by 29.1% in the first quarter. Aperio Group LLC now owns 13,345 shares of the company’s stock valued at $298,000 after buying an additional 3,006 shares during the last quarter. HBK Investments L P increased its position in shares of Live Nation Entertainment by 83.2% in the first quarter. HBK Investments L P now owns 383,962 shares of the company’s stock valued at $8,566,000 after buying an additional 174,362 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of Live Nation Entertainment by 1.7% in the first quarter. BlackRock Group LTD now owns 166,702 shares of the company’s stock valued at $3,720,000 after buying an additional 2,750 shares during the last quarter. 64.04% of the stock is currently owned by institutional investors and hedge funds.

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