Live Nation Entertainment (NYSE:LYV) Given New $180.00 Price Target at Moffett Nathanson

Live Nation Entertainment (NYSE:LYV) had its price objective dropped by equities research analysts at Moffett Nathanson from $185.00 to $180.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has a “buy” rating on the stock. Moffett Nathanson’s price objective suggests a potential upside of 22.39% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Citigroup lowered their price objective 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. Guggenheim lowered their price target on shares of Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating on the stock in a research report on Wednesday, January 14th. Zacks Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, January 16th. Roth Mkm lowered 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 report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Monday, December 29th. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $172.55.

Live Nation Entertainment Stock Up 6.5%

Shares of Live Nation Entertainment stock traded up $8.94 on Thursday, reaching $147.08. 5,516,716 shares of the company were exchanged, compared to its average volume of 2,185,276. The company has a market capitalization of $34.52 billion, a price-to-earnings ratio of 106.58, a PEG ratio of 9.08 and a beta of 1.20. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41. Live Nation Entertainment has a one year low of $112.88 and a one year high of $175.25. The company has a 50-day moving average of $139.73 and a 200 day moving average of $150.16.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 EPS. On average, equities research analysts forecast that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Clearstead Trust LLC raised its holdings in Live Nation Entertainment by 469.0% during the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after purchasing an additional 136 shares during the last quarter. Ameriflex Group Inc. lifted its stake in Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after buying an additional 84 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Live Nation Entertainment during the 3rd quarter worth approximately $33,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter worth approximately $34,000. Finally, Measured Risk Portfolios Inc. bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at $37,000. 74.52% of the stock is currently owned by institutional investors.

About Live Nation Entertainment

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.