Live Nation Entertainment (NYSE:LYV) Price Target Lowered to $168.00 at Guggenheim

Live Nation Entertainment (NYSE:LYV) had its target price cut by research analysts at Guggenheim from $172.00 to $168.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 15.30% from the stock’s current price.

Other research analysts have also issued reports about the company. Rothschild & Co Redburn lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $144.00 to $170.00 in a research report on Tuesday, September 16th. JPMorgan Chase & Co. lowered their price objective on shares of Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Roth Capital decreased their price target on shares of Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group cut shares of Live Nation Entertainment from a “buy” rating to a “hold” rating and cut their price objective for the stock from $161.00 to $155.00 in a research report on Tuesday. Eighteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $172.95.

Live Nation Entertainment Stock Performance

Shares of LYV traded down $1.07 during mid-day trading on Wednesday, hitting $145.71. 2,452,734 shares of the company’s stock were exchanged, compared to its average volume of 2,488,864. The stock’s 50-day simple moving average is $139.26 and its 200-day simple moving average is $150.48. The firm has a market cap of $34.20 billion, a price-to-earnings ratio of 105.58, a price-to-earnings-growth ratio of 9.34 and a beta of 1.20. 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.

Live Nation Entertainment (NYSE:LYV) last announced 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 analyst estimates 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 earnings per share. On average, equities research analysts expect that Live Nation Entertainment will post 2.38 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

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

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.