Live Nation Entertainment (NYSE:LYV) Lowered to "Neutral" Rating by Rothschild & Co Redburn

Key Points

• Live Nation Entertainment has been downgraded from a "buy" rating to a "neutral" rating by Rothschild & Co Redburn, with a price target set at $170.00, indicating a potential downside of 1.64% from its previous close.
• Despite the downgrade, other analysts are optimistic, with Benchmark and Citigroup raising their price targets to $180.00 and $195.00 respectively, while 18 analysts still maintain a "buy" rating.
• Live Nation reported a $0.41 EPS for the latest quarter, missing estimates, but achieved a revenue of $7.01 billion, which exceeded expectations of $6.93 billion.

Live Nation Entertainment (NYSE:LYV - Get Free Report) was downgraded by equities research analysts at Rothschild & Co Redburn from a "buy" rating to a "neutral" rating in a research report issued on Tuesday, MarketBeat.com reports. They presently have a $170.00 price target on the stock. Rothschild & Co Redburn's price target would suggest a potential downside of 1.64% from the stock's previous close.

A number of other equities research analysts have also recently commented on LYV. Benchmark increased their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 8th. Citigroup increased their target price on Live Nation Entertainment from $165.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 9th. Moffett Nathanson initiated coverage on Live Nation Entertainment in a report on Monday, August 18th. They set a "buy" rating and a $195.00 target price on the stock. Oppenheimer increased their target price on Live Nation Entertainment from $165.00 to $180.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Finally, Wolfe Research increased their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Eighteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $170.68.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $172.84 on Tuesday. The company has a market cap of $40.53 billion, a price-to-earnings ratio of 74.82, a price-to-earnings-growth ratio of 11.72 and a beta of 1.42. The stock has a 50 day simple moving average of $157.53 and a 200-day simple moving average of $143.23. Live Nation Entertainment has a 12-month low of $99.17 and a 12-month high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

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

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LYV. Clearstead Trust LLC increased its holdings in shares of Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company's stock valued at $25,000 after buying an additional 136 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Live Nation Entertainment during the 1st quarter valued at $30,000. Chilton Capital Management LLC bought a new stake in Live Nation Entertainment in the first quarter worth $33,000. N.E.W. Advisory Services LLC bought a new stake in Live Nation Entertainment in the first quarter worth $42,000. Finally, GW&K Investment Management LLC boosted its holdings in Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after purchasing an additional 283 shares in the last quarter. 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.

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