Live Nation Entertainment (NYSE:LYV) Price Target Lowered to $175.00 at Guggenheim

Live Nation Entertainment (NYSE:LYV) had its price objective dropped by equities research analysts at Guggenheim from $182.00 to $175.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would indicate a potential upside of 25.56% from the company’s previous close.

Several other brokerages have also issued reports on LYV. Oppenheimer boosted their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday. Morgan Stanley dropped their target price on Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup lowered their price target on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Finally, Moffett Nathanson began coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They issued a “buy” rating and a $195.00 target price on the stock. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $173.11.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock traded down $11.38 on Wednesday, reaching $139.37. The stock had a trading volume of 2,704,997 shares, compared to its average volume of 2,482,950. Live Nation Entertainment has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The business’s 50-day moving average price is $159.96 and its two-hundred day moving average price is $151.04. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $32.68 billion, a P/E ratio of 60.34, a price-to-earnings-growth ratio of 12.85 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.81). The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 earnings per share. On average, sell-side analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LYV. Clearstead Trust LLC raised its stake in shares of Live Nation Entertainment by 469.0% during the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after buying an additional 136 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Live Nation Entertainment during the 1st quarter worth $30,000. Atwood & Palmer Inc. bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $33,000. Heartwood Wealth Advisors LLC acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $34,000. Finally, Measured Risk Portfolios Inc. bought a new position in shares of Live Nation Entertainment in the 3rd quarter worth $37,000. Institutional investors own 74.52% of the company’s stock.

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.