Live Nation Entertainment (NYSE:LYV) Price Target Lowered to $170.00 at Morgan Stanley

Live Nation Entertainment (NYSE:LYV) had its price objective lowered by Morgan Stanley from $180.00 to $170.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

LYV has been the topic of several other research reports. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday. Susquehanna raised their price target on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research note on Monday. Rothschild & Co Redburn lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and raised their price target for the company from $144.00 to $170.00 in a research note on Tuesday, September 16th. Finally, Citigroup cut their price target on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Nineteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.35.

Live Nation Entertainment Stock Performance

LYV stock opened at $134.89 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The business’s fifty day simple moving average is $159.34 and its two-hundred day simple moving average is $150.93. Live Nation Entertainment has a twelve month low of $112.88 and a twelve month high of $175.25. The firm has a market cap of $31.63 billion, a price-to-earnings ratio of 58.39, a PEG ratio of 12.85 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. During the same quarter in the previous year, the business earned $1.66 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Several institutional investors have recently added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC boosted its holdings in Live Nation Entertainment by 2.5% in 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 in the last quarter. Gilbert & Cook Inc. boosted its holdings in Live Nation Entertainment by 1.4% in 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 in the last quarter. Vident Advisory LLC boosted its holdings in Live Nation Entertainment by 2.1% in 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 in the last quarter. Private Trust Co. NA boosted its holdings in Live Nation Entertainment by 24.4% in the third quarter. Private Trust Co. NA now owns 418 shares of the company’s stock worth $68,000 after acquiring an additional 82 shares in the last quarter. Finally, Greenleaf Trust boosted its holdings in Live Nation Entertainment by 5.8% in the third quarter. Greenleaf Trust now owns 1,680 shares of the company’s stock worth $275,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds 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.