Citigroup Issues Pessimistic Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Key Points

• Citigroup has reduced its target price for Live Nation Entertainment (NYSE:LYV) from $195.00 to $181.00, maintaining a "buy" rating, indicating a potential upside of 16.07% from its previous close.
• Live Nation reported a missed earnings target with $0.41 earnings per share, far below the consensus estimate of $1.08, although it achieved revenue of $7.01 billion, beating expectations.
• Analysts maintain a generally positive outlook on Live Nation, with a consensus rating of "Moderate Buy" and a price target averaging $171.89, supported by 18 "buy" ratings and three "hold" ratings.

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its target price lowered by stock analysts at Citigroup from $195.00 to $181.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price suggests a potential upside of 16.07% from the company's previous close.

Other analysts have also issued reports about the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. Benchmark boosted their price objective on Live Nation Entertainment from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on Live Nation Entertainment from $175.00 to $173.00 and set a "buy" rating on the stock in a research note on Thursday. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Finally, Moffett Nathanson began coverage on Live Nation Entertainment in a research report on Monday, August 18th. They set a "buy" rating and a $195.00 target price for the company. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $171.89.

Live Nation Entertainment Stock Down 0.8%

LYV stock opened at $155.94 on Thursday. Live Nation Entertainment has a twelve month low of $112.88 and a twelve month high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The stock's 50 day moving average is $162.19 and its 200-day moving average is $149.01. The firm has a market capitalization of $36.56 billion, a PE ratio of 67.51, a P/E/G ratio of 12.27 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same period in the prior year, the firm posted $1.03 EPS. The firm's revenue for the quarter was up 16.3% on a year-over-year basis. Sell-side analysts expect that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Clearstead Trust LLC raised its position 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 worth $25,000 after acquiring an additional 136 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Live Nation Entertainment in the 1st quarter worth approximately $30,000. Chilton Capital Management LLC bought a new position in shares of Live Nation Entertainment in the 1st quarter worth approximately $33,000. Atwood & Palmer Inc. bought a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $33,000. Finally, Heartwood Wealth Advisors LLC bought a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $34,000. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Company Profile

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.

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