Moffett Nathanson Cuts Live Nation Entertainment (NYSE:LYV) Price Target to $180.00

Live Nation Entertainment (NYSE:LYV) had its price objective trimmed by Moffett Nathanson from $185.00 to $180.00 in a research report report published on Thursday,MarketScreener reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the stock. Rothschild & Co Redburn reduced their price objective on shares of Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Evercore ISI increased their price target on Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a report on Monday, December 29th. Jefferies Financial Group lowered Live Nation Entertainment from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $161.00 to $155.00 in a research note on Tuesday, January 13th. Finally, Roth Mkm decreased their target price on Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $172.55.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $147.08 on Thursday. The business has a 50-day simple moving average of $139.73 and a two-hundred day simple moving average of $150.20. 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. The stock has a market cap of $34.52 billion, a price-to-earnings ratio of 106.58, a PEG ratio of 9.66 and a beta of 1.20.

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). Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. During the same quarter last year, the firm posted $1.66 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. On average, analysts expect that Live Nation Entertainment will post 2.38 EPS for the current year.

Institutional Trading of Live Nation Entertainment

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Live Nation Entertainment by 1.8% in the third 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 in the last quarter. Principal Financial Group Inc. grew its stake 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 buying an additional 1,763,511 shares in the last quarter. Capital World Investors increased its holdings in shares of Live Nation Entertainment by 4.8% in the 3rd 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 during the last quarter. Geode Capital Management LLC raised its position in shares of Live Nation Entertainment by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock valued at $639,849,000 after buying an additional 156,471 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Live Nation Entertainment by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock valued at $455,355,000 after acquiring an additional 123,800 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other 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.