Live Nation Entertainment's (LYV) "Hold (C)" Rating Reaffirmed at Weiss Ratings

Key Points

• Live Nation Entertainment's stock rating was reaffirmed as a "hold (C)" by Weiss Ratings, while other brokerages like Guggenheim and Morgan Stanley set price targets at $170.00 and $180.00 respectively.
• The company's stock is currently down 3.4%, trading at $150.02, with a one-year high of $175.25 and a low of $111.28.
• Live Nation reported a revenue of $7.01 billion for the last quarter, surpassing estimates, but missed EPS expectations with a reported $0.41 compared to the consensus of $1.08.

Live Nation Entertainment (NYSE:LYV - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages have also issued reports on LYV. Guggenheim reiterated a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a report on Thursday, July 24th. Rothschild Redb lowered Live Nation Entertainment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Rothschild & Co Redburn lowered Live Nation Entertainment from a "buy" rating to a "neutral" rating and increased their price target for the stock from $144.00 to $170.00 in a report on Tuesday, September 16th. Finally, Moffett Nathanson initiated coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a "buy" rating and a $195.00 price target on the stock. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $171.42.

Live Nation Entertainment Stock Down 3.4%

Shares of Live Nation Entertainment stock opened at $150.02 on Wednesday. Live Nation Entertainment has a one year low of $111.28 and a one year high of $175.25. 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 stock's 50-day moving average is $161.68 and its 200 day moving average is $147.18. The firm has a market cap of $35.18 billion, a price-to-earnings ratio of 64.94, a PEG ratio of 10.56 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its 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). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The firm's revenue for the quarter was up 16.3% on a year-over-year basis. Equities research analysts anticipate that Live Nation Entertainment will post 2.38 EPS for the current year.

Institutional Trading of Live Nation Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Clearstead Trust LLC increased its position in shares of Live Nation Entertainment by 469.0% during the second quarter. Clearstead Trust LLC now owns 165 shares of the company's stock valued at $25,000 after acquiring an additional 136 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at approximately $30,000. Chilton Capital Management LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at approximately $33,000. Heartwood Wealth Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $34,000. Finally, GW&K Investment Management LLC increased its position in shares of Live Nation Entertainment by 690.2% during the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after acquiring an additional 283 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.