Live Nation Entertainment, Inc. (NYSE:LYV - Get Free Report)'s stock price dropped 4% during mid-day trading on Wednesday . The stock traded as low as $149.02 and last traded at $149.13. Approximately 2,061,553 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 2,472,047 shares. The stock had previously closed at $155.33.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on LYV shares. Wolfe Research increased their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Oppenheimer increased their target price on Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Rothschild Redb lowered Live Nation Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Moffett Nathanson started coverage on Live Nation Entertainment in a research note on Monday, August 18th. They set a "buy" rating and a $195.00 price objective for the company. Finally, Guggenheim reaffirmed a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $171.42.
Read Our Latest Stock Analysis on LYV
Live Nation Entertainment Price Performance
The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The company's 50 day moving average price is $161.73 and its 200 day moving average price is $147.16. The firm has a market capitalization of $35.19 billion, a P/E ratio of 64.96, a PEG ratio of 10.60 and a beta of 1.40.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.67). The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. Live Nation Entertainment's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.
Hedge Funds Weigh In On Live Nation Entertainment
Several hedge funds have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Live Nation Entertainment during the 1st quarter worth approximately $1,153,000. Praxis Investment Management Inc. boosted its stake in Live Nation Entertainment by 45.2% in the first quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock valued at $726,000 after acquiring an additional 1,730 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in Live Nation Entertainment in the first quarter valued at approximately $272,000. Teacher Retirement System of Texas bought a new position in Live Nation Entertainment in the first quarter valued at approximately $3,081,000. Finally, Personal CFO Solutions LLC bought a new position in shares of Live Nation Entertainment in the 1st quarter worth $277,000. Institutional investors own 74.52% of the company's stock.
Live Nation Entertainment Company Profile
(
Get Free Report)
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.
Further Reading
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