JPMorgan Chase & Co. Issues Pessimistic Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYVGet Free Report) had its target price cut by stock analysts at JPMorgan Chase & Co. from $172.00 to $170.00 in a report issued on Friday,MarketScreener reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 17.45% from the stock’s previous close.

LYV has been the subject of several other research reports. Susquehanna upped their price target on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. UBS Group began coverage on Live Nation Entertainment in a research note on Tuesday, November 25th. They issued a “buy” rating and a $164.00 price objective on the stock. Evercore ISI boosted their target price on Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a report on Tuesday, December 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the company a “sell” rating in a report on Friday, January 2nd. Eighteen investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $172.86.

Read Our Latest Research Report on LYV

Live Nation Entertainment Price Performance

Live Nation Entertainment stock traded down $0.99 during midday trading on Friday, reaching $144.74. 5,189,535 shares of the company were exchanged, compared to its average volume of 2,074,600. The company has a market capitalization of $33.98 billion, a price-to-earnings ratio of 104.88, a P/E/G ratio of 9.33 and a beta of 1.20. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s 50-day simple moving average is $139.49 and its 200-day simple moving average is $150.40. Live Nation Entertainment has a 1 year low of $112.88 and a 1 year high of $175.25.

Live Nation Entertainment (NYSE:LYVGet Free Report) last released its earnings results on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, analysts anticipate 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 the business. Seven Grand Managers LLC bought a new stake in Live Nation Entertainment during the second quarter worth approximately $22,692,000. Signaturefd LLC grew its position in Live Nation Entertainment by 25.3% during the second quarter. Signaturefd LLC now owns 1,342 shares of the company’s stock valued at $203,000 after purchasing an additional 271 shares in the last quarter. WT Wealth Management purchased a new stake in shares of Live Nation Entertainment during the third quarter worth $1,753,000. Osaic Holdings Inc. grew its stake in shares of Live Nation Entertainment by 44.0% in the 2nd quarter. Osaic Holdings Inc. now owns 23,966 shares of the company’s stock valued at $3,407,000 after buying an additional 7,322 shares in the last quarter. Finally, L2 Asset Management LLC increased its stake in shares of Live Nation Entertainment by 224.9% during the 2nd quarter. L2 Asset Management LLC now owns 20,549 shares of the company’s stock worth $3,109,000 after purchasing an additional 14,224 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Live Nation Entertainment

Here are the key news stories impacting Live Nation Entertainment this week:

About Live Nation Entertainment

(Get Free Report)

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.

Read More

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.