Live Nation Entertainment (NYSE:LYV) Given New $172.00 Price Target at JPMorgan Chase & Co.

Live Nation Entertainment (NYSE:LYV) had its price target cut by JPMorgan Chase & Co. from $180.00 to $172.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also issued reports on LYV. Roth Capital reduced their price target on Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup reduced their price target on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Evercore ISI reduced their price target on Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price target on Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Finally, Susquehanna increased their price target on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research report on Monday. Nineteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.35.

Live Nation Entertainment Stock Down 10.5%

Shares of LYV opened at $134.89 on Wednesday. The stock has a market capitalization of $31.63 billion, a PE ratio of 58.39, a P/E/G ratio of 12.85 and a beta of 1.40. Live Nation Entertainment has a 1 year low of $112.88 and a 1 year high of $175.25. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50-day simple moving average is $159.34 and its 200-day simple moving average is $150.93.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.81). The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.66 EPS. Analysts forecast 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 added to or reduced their stakes in LYV. Private Trust Co. NA grew its stake in Live Nation Entertainment by 94.2% during the 1st quarter. Private Trust Co. NA now owns 404 shares of the company’s stock worth $53,000 after buying an additional 196 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Live Nation Entertainment during the 1st quarter worth approximately $3,081,000. OneDigital Investment Advisors LLC grew its stake in Live Nation Entertainment by 8.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,968 shares of the company’s stock worth $257,000 after buying an additional 147 shares during the last quarter. Wayfinding Financial LLC purchased a new position in Live Nation Entertainment during the 1st quarter worth approximately $30,000. Finally, Envestnet Asset Management Inc. grew its stake in Live Nation Entertainment by 31.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 407,447 shares of the company’s stock worth $53,204,000 after buying an additional 97,664 shares during the last quarter. 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.