Rothschild & Co Redburn Cuts Live Nation Entertainment (NYSE:LYV) Price Target to $166.00

Live Nation Entertainment (NYSE:LYV) had its target price trimmed by Rothschild & Co Redburn from $170.00 to $166.00 in a research report sent to investors on Monday morning,MarketScreener reports. The firm currently has a neutral rating on the stock.

LYV has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft decreased their price target on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Jefferies Financial Group downgraded Live Nation Entertainment from a “buy” rating to a “hold” rating and lowered their price target for the company from $161.00 to $155.00 in a report on Tuesday. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Evercore ISI boosted their price objective on shares of Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. Finally, Roth Capital dropped their target price on shares of Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Eighteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $172.95.

Live Nation Entertainment Stock Down 0.7%

Live Nation Entertainment stock traded down $1.07 during trading on Monday, reaching $145.71. The stock had a trading volume of 2,452,734 shares, compared to its average volume of 2,488,864. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41. Live Nation Entertainment has a 52-week low of $112.88 and a 52-week high of $175.25. The stock has a market cap of $34.20 billion, a PE ratio of 105.58, a P/E/G ratio of 9.34 and a beta of 1.20. The business has a 50 day moving average price of $139.26 and a 200 day moving average price of $150.48.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data 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). The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. Live Nation Entertainment’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.66 earnings per share. On average, analysts predict that Live Nation Entertainment will post 2.38 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in LYV. Vanguard Group Inc. grew its holdings in shares of Live Nation Entertainment by 1.8% during the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after buying an additional 372,715 shares during the last quarter. Principal Financial Group Inc. lifted its position in Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after acquiring an additional 1,763,511 shares during the period. Capital World Investors grew its stake in shares of Live Nation Entertainment by 4.8% in the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock valued at $840,829,000 after purchasing an additional 237,342 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Live Nation Entertainment by 3.8% in the second quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock valued at $639,849,000 after purchasing an additional 156,471 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Live Nation Entertainment by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company’s stock worth $501,911,000 after purchasing an additional 212,592 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Company Profile

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.