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

Live Nation Entertainment (NYSE:LYV) had its target price cut by investment analysts at Rothschild & Co Redburn from $170.00 to $166.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “neutral” rating on the stock. Rothschild & Co Redburn’s price objective indicates a potential upside of 13.93% from the stock’s previous close.

Several other equities research analysts have also recently commented on LYV. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Roth Capital dropped their price target on shares of Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Evercore ISI lifted their price target on shares of Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Finally, Guggenheim cut their target price on shares of Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating for the company in a research report on Wednesday. Eighteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $172.95.

Live Nation Entertainment Stock Down 0.7%

Shares of NYSE:LYV traded down $1.07 during trading on Monday, reaching $145.71. 2,452,734 shares of the stock traded hands, compared to its average volume of 2,488,864. 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 P/E ratio of 105.58, a price-to-earnings-growth ratio of 9.34 and a beta of 1.20. The stock has a 50-day moving average of $139.26 and a two-hundred day moving average of $150.48. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) 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 3.66% and a return on equity of 97.90%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.66 earnings per share. As a group, sell-side analysts expect that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Live Nation Entertainment

A number of hedge funds have recently modified their holdings of LYV. Vanguard Group Inc. raised its holdings in Live Nation Entertainment by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after purchasing an additional 372,715 shares during the period. Principal Financial Group Inc. increased its position in Live Nation Entertainment by 22.1% in the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after buying an additional 1,763,511 shares in the last quarter. Capital World Investors raised its stake in shares of Live Nation Entertainment by 4.8% in the third quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after buying an additional 237,342 shares during the period. Geode Capital Management LLC lifted its position in shares of Live Nation Entertainment by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock valued at $639,849,000 after buying an additional 156,471 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Live Nation Entertainment by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company’s stock valued at $501,911,000 after acquiring an additional 212,592 shares during the period. Institutional investors own 74.52% of the company’s stock.

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.