Live Nation Entertainment (NYSE:LYV) Cut to Neutral at Rothschild & Co Redburn

Rothschild & Co Redburn downgraded shares of Live Nation Entertainment (NYSE:LYV) from a buy rating to a neutral rating in a report published on Tuesday, Marketbeat reports. They currently have $170.00 price target on the stock, up from their previous price target of $144.00.

Several other equities analysts also recently issued reports on LYV. Citigroup upped their price objective on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. Guggenheim reiterated a “buy” rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 price target for the company. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Finally, Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a research report on Monday, August 18th. They issued a “buy” rating and a $195.00 price target for the company. Eighteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $170.68.

Live Nation Entertainment Trading Down 2.8%

NYSE LYV opened at $164.71 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment has a 52 week low of $102.72 and a 52 week high of $175.25. The stock has a market capitalization of $38.62 billion, a PE ratio of 71.30, a price-to-earnings-growth ratio of 11.43 and a beta of 1.42. The firm has a 50 day moving average of $158.97 and a two-hundred day moving average of $143.75.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $1.03 earnings per share. The company’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, research analysts expect that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC increased its stake in shares of Live Nation Entertainment by 2.5% during the second quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after acquiring an additional 69 shares during the period. Gilbert & Cook Inc. increased its stake in shares of Live Nation Entertainment by 1.4% during the first quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock worth $723,000 after acquiring an additional 75 shares during the period. Vident Advisory LLC increased its stake in shares of Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after acquiring an additional 75 shares during the period. Central Pacific Bank Trust Division increased its stake in shares of Live Nation Entertainment by 1.8% during the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock worth $835,000 after acquiring an additional 97 shares during the period. Finally, Trust Asset Management LLC increased its stake in shares of Live Nation Entertainment by 5.8% during the first quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after acquiring an additional 98 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

About Live Nation Entertainment

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.