JPMorgan Chase & Co. Cuts Live Nation Entertainment (NYSE:LYV) Price Target to $170.00

by · The Cerbat Gem

Live Nation Entertainment (NYSE:LYV – Get Free Report) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $172.00 to $170.00 in a research report issued on Friday,MarketScreener reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 17.45% from the company’s current price.

Several other analysts have also recently commented on LYV. Morgan Stanley reduced their price target on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Evercore ISI lifted their target price on shares of Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a report on Tuesday, December 23rd. UBS Group assumed coverage on shares of Live Nation Entertainment in a research report on Tuesday, November 25th. They set a “buy” rating and a $164.00 target price on the stock. Rothschild & Co Redburn lowered their price objective on Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Finally, The Goldman Sachs Group increased their target price on Live Nation Entertainment from $160.00 to $165.00 and gave the stock a “sell” rating in a report on Friday, January 2nd. Eighteen equities research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $172.86.

Get Our Latest Research Report on Live Nation Entertainment

Live Nation Entertainment Stock Performance

Shares of LYV opened at $144.74 on Friday. The stock has a market capitalization of $33.98 billion, a PE ratio of 104.88, a PEG 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 stock has a 50-day simple moving average of $139.49 and a 200-day simple moving average of $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:LYV – Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. During the same quarter last year, the business earned $1.66 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts predict that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LYV. Clearstead Trust LLC raised its stake in shares of Live Nation Entertainment by 469.0% during the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares in the last quarter. Ameriflex Group Inc. raised 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 purchasing an additional 84 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Live Nation Entertainment during the third quarter valued at $33,000. Heartwood Wealth Advisors LLC purchased a new position in Live Nation Entertainment in the 3rd quarter worth $34,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment News Summary

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

Live Nation Entertainment Company Profile

(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.

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