Deutsche Bank Aktiengesellschaft Cuts Live Nation Entertainment (NYSE:LYV) Price Target to $160.00

Live Nation Entertainment (NYSE:LYV) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $173.00 to $160.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Guggenheim decreased their price target on shares of Live Nation Entertainment from $175.00 to $172.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Roth Capital reduced their target price on Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Susquehanna lifted their price target on Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Rothschild & Co Redburn downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating and increased their price objective for the company from $144.00 to $170.00 in a research note on Tuesday, September 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $174.00.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $130.45 on Thursday. The firm’s fifty day moving average is $151.72 and its two-hundred day moving average is $151.26. The firm has a market cap of $30.62 billion, a price-to-earnings ratio of 56.47, a PEG ratio of 12.85 and a beta of 1.37. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment has a one year low of $112.88 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results 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). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. During the same quarter in the prior year, the firm earned $1.66 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts expect that Live Nation Entertainment will post 2.38 EPS for the current year.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC grew its stake in shares of Live Nation Entertainment by 2.5% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock valued at $428,000 after buying an additional 69 shares during the period. Vident Advisory LLC grew its position in Live Nation Entertainment by 2.1% in the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after acquiring an additional 75 shares during the period. Prairie Wealth Advisors Inc. increased its stake in Live Nation Entertainment by 5.0% during the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after acquiring an additional 80 shares during the last quarter. Private Trust Co. NA raised its position in Live Nation Entertainment by 24.4% in the third quarter. Private Trust Co. NA now owns 418 shares of the company’s stock valued at $68,000 after purchasing an additional 82 shares during the period. Finally, Ameriflex Group Inc. lifted its stake in shares of Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

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.