Morgan Stanley Lowers Live Nation Entertainment (NYSE:LYV) Price Target to $170.00

Live Nation Entertainment (NYSE:LYV) had its price target dropped by investment analysts at Morgan Stanley from $180.00 to $170.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 23.10% from the company’s previous close.

LYV has been the subject of several other reports. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They set a “buy” rating and a $195.00 price objective for the company. Citigroup dropped their price target on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Rothschild & Co Redburn lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $144.00 to $170.00 in a research report on Tuesday, September 16th. Oppenheimer boosted their target price on Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Nineteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.35.

Live Nation Entertainment Stock Up 2.5%

Shares of NYSE LYV opened at $138.10 on Wednesday. The stock has a market capitalization of $32.38 billion, a price-to-earnings ratio of 59.78, a P/E/G ratio of 12.85 and a beta of 1.37. Live Nation Entertainment has a 12-month low of $112.88 and a 12-month high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The firm’s 50-day moving average price is $158.77 and its 200-day moving average price is $150.84.

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 company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.87 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $1.66 earnings per share. On average, equities research analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Institutional Trading of Live Nation Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Live Nation Entertainment by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock worth $3,071,954,000 after acquiring an additional 423,541 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Live Nation Entertainment by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after purchasing an additional 1,763,511 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Live Nation Entertainment by 4.4% during the first quarter. Canada Pension Plan Investment Board now owns 9,029,939 shares of the company’s stock valued at $1,179,129,000 after purchasing an additional 379,924 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in Live Nation Entertainment by 21.4% during the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock valued at $744,118,000 after buying an additional 1,004,574 shares during the period. Finally, 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. 74.52% of the stock is currently owned by institutional investors.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.