JPMorgan Chase & Co. Has Lowered Expectations for Live Nation Entertainment (NYSE:LYV) Stock Price

Key Points

• JPMorgan Chase & Co. trimmed its price target for Live Nation to $178 from $180 but maintained an "overweight" rating, implying roughly a 15.7% upside from the prior close.
• The analyst consensus is a "Moderate Buy" (21 Buys, 2 Holds, 1 Sell) with a consensus price target of $186.29.
• Live Nation missed Q results on EPS (‑$1.06 vs. est. ‑$1.00) while revenue rose 11.1% to $6.31B; the stock traded near $153.86, with a 1‑year range of $125.34–$175.25 and a high debt‑to‑equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV - Get Free Report) had its target price cut by analysts at JPMorgan Chase & Co. from $180.00 to $178.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 15.69% from the company's previous close.

Other research analysts have also issued reports about the stock. Morgan Stanley restated an "overweight" rating and set a $185.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Moffett Nathanson dropped their price objective on Live Nation Entertainment from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, January 22nd. Evercore restated an "outperform" rating and issued a $198.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Citizens Jmp initiated coverage on Live Nation Entertainment in a research report on Monday, March 30th. They set a "market outperform" rating and a $190.00 price target for the company. Finally, Rothschild & Co Redburn raised Live Nation Entertainment from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $166.00 to $193.00 in a report on Friday, February 27th. Twenty-one research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and a consensus price target of $186.29.

Live Nation Entertainment Stock Performance

Shares of LYV stock traded down $0.77 during trading on Thursday, reaching $153.86. 59,496 shares of the company's stock traded hands, compared to its average volume of 2,974,132. The firm's 50-day moving average is $157.52 and its 200 day moving average is $148.45. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. Live Nation Entertainment has a 1 year low of $125.34 and a 1 year high of $175.25. The company has a market capitalization of $36.13 billion, a P/E ratio of -641.73 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period in the previous year, the business earned $0.58 earnings per share. Live Nation Entertainment's revenue was up 11.1% on a year-over-year basis. Equities research analysts expect that Live Nation Entertainment will post 1.45 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director owned 48,030 shares of the company's stock, valued at $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.01% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LYV. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company's stock valued at $1,589,196,000 after acquiring an additional 1,763,511 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in Live Nation Entertainment during the 3rd quarter valued at $1,606,000. Profund Advisors LLC boosted its position in Live Nation Entertainment by 51.1% during the 3rd quarter. Profund Advisors LLC now owns 11,141 shares of the company's stock valued at $1,820,000 after buying an additional 3,767 shares during the period. EFG Asset Management North America Corp. bought a new stake in Live Nation Entertainment in the 3rd quarter worth $1,191,000. Finally, J. Safra Sarasin Holding AG purchased a new position in shares of Live Nation Entertainment in the third quarter valued at about $2,015,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

About Live Nation Entertainment

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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