Deutsche Bank Aktiengesellschaft Cuts Live Nation Entertainment (NYSE:LYV) Price Target to $173.00

Live Nation Entertainment (NYSE:LYV) had its price target reduced by Deutsche Bank Aktiengesellschaft from $175.00 to $173.00 in a research note published on Thursday, MarketBeat.com reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other research firms have also recently weighed in on LYV. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. The Goldman Sachs Group increased their target price on Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Moffett Nathanson began coverage on Live Nation Entertainment in a research report on Monday, August 18th. They issued a “buy” rating and a $195.00 target price on the stock. Citigroup upped their price target on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Finally, Rothschild & Co Redburn cut Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.89.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $152.98 on Thursday. The firm’s 50-day moving average price is $161.87 and its 200-day moving average price is $149.70. Live Nation Entertainment has a 52-week low of $112.88 and a 52-week high of $175.25. The company has a market cap of $35.87 billion, a PE ratio of 66.23, a PEG ratio of 12.17 and a beta of 1.40. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share 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 company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the company earned $1.03 EPS. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYV. Clearstead Trust LLC lifted its stake in shares of Live Nation Entertainment by 469.0% in the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after purchasing an additional 136 shares during the last quarter. Wayfinding Financial LLC bought a new position in Live Nation Entertainment during the first quarter valued at $30,000. Chilton Capital Management LLC purchased a new stake in shares of Live Nation Entertainment in the first quarter valued at $33,000. Atwood & Palmer Inc. purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth about $33,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in Live Nation Entertainment in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

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.