Citigroup Cuts Live Nation Entertainment (NYSE:LYV) Price Target to $181.00

Live Nation Entertainment (NYSE:LYV) had its price target lowered by Citigroup from $195.00 to $181.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

LYV has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. 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 report on Thursday. Benchmark upped their price target on Live Nation Entertainment from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Finally, Moffett Nathanson began coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 target price for the company. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $171.89.

Live Nation Entertainment Trading Down 0.2%

NYSE LYV opened at $152.98 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment has a 1-year low of $112.88 and a 1-year high of $175.25. The firm’s fifty day simple moving average is $161.87 and its 200-day simple moving average is $149.70. The company has a market capitalization of $35.87 billion, a PE ratio of 66.23, a price-to-earnings-growth ratio of 12.17 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter last year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Clearstead Trust LLC boosted its position in shares of Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares during the period. Wayfinding Financial LLC bought a new stake in Live Nation Entertainment in the 1st quarter valued at $30,000. Chilton Capital Management LLC acquired a new stake in Live Nation Entertainment in the 1st quarter worth $33,000. Atwood & Palmer Inc. bought a new position in shares of Live Nation Entertainment during the 3rd quarter worth about $33,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Live Nation Entertainment in the third quarter valued at about $34,000. 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.