Moffett Nathanson Issues Pessimistic Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price target reduced by Moffett Nathanson from $185.00 to $180.00 in a research report issued on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Moffett Nathanson’s price target indicates a potential upside of 22.39% from the company’s current price.

Several other research firms have also recently weighed in on LYV. Roth Mkm cut their target price on 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. Guggenheim dropped their price target on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. Evercore ISI raised 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. JPMorgan Chase & Co. dropped their target price on shares of Live Nation Entertainment from $172.00 to $170.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Monday, December 29th. Seventeen research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $172.55.

Live Nation Entertainment Stock Performance

Shares of LYV traded up $8.94 during mid-day trading on Thursday, hitting $147.08. 5,516,716 shares of the company’s stock were exchanged, compared to its average volume of 2,185,276. The firm has a market cap of $34.52 billion, a price-to-earnings ratio of 106.58, a price-to-earnings-growth ratio of 9.08 and a beta of 1.20. Live Nation Entertainment has a 52 week low of $112.88 and a 52 week high of $175.25. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41. The stock’s 50-day simple moving average is $139.73 and its 200-day simple moving average is $150.16.

Live Nation Entertainment (NYSE:LYV) last issued 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). The business 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%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 EPS. On average, equities research analysts expect that Live Nation Entertainment will post 2.38 EPS for the current year.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in LYV. Vanguard Group Inc. increased its position 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 valued at $3,378,970,000 after purchasing an additional 372,715 shares during the period. Principal Financial Group Inc. boosted its stake in shares of 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 valued at $1,589,196,000 after purchasing an additional 1,763,511 shares in the last quarter. Capital World Investors increased its position in shares of Live Nation Entertainment by 4.8% during the third quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock valued at $840,829,000 after buying an additional 237,342 shares during the period. Geode Capital Management LLC raised its stake in 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 worth $639,849,000 after buying an additional 156,471 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Live Nation Entertainment by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after buying an additional 123,800 shares during the period. 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.