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

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

Several other analysts have also commented on the stock. Rothschild & Co Redburn lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $144.00 to $170.00 in a report on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a report on Monday, December 29th. UBS Group initiated coverage on shares of Live Nation Entertainment in a research note on Tuesday, November 25th. They issued a “buy” rating and a $164.00 price target for the company. Rothschild Redb lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the company a “sell” rating in a research note on Friday, January 2nd. Eighteen analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $172.95.

Live Nation Entertainment Trading Down 0.7%

Shares of Live Nation Entertainment stock traded down $1.07 during trading on Wednesday, reaching $145.71. The company’s stock had a trading volume of 2,452,734 shares, compared to its average volume of 2,488,864. The company has a market cap of $34.20 billion, a price-to-earnings ratio of 105.58, a PEG ratio of 9.34 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 firm’s 50-day moving average is $139.26 and its two-hundred day moving average is $150.48. 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 (NYSE:LYV) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. During the same period last year, the firm earned $1.66 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current year.

Institutional Trading of Live Nation Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC boosted its position in 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 lifted its position in shares of Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after buying an additional 75 shares during the last quarter. Prairie Wealth Advisors Inc. increased its position in shares of 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 purchasing an additional 80 shares in the last quarter. Private Trust Co. NA raised its position in shares of Live Nation Entertainment by 24.4% in the 3rd 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 last quarter. Finally, Ameriflex Group Inc. increased its position 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 acquiring an additional 84 shares during the period. 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.