Rosenblatt Securities Has Lowered Expectations for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV - Free Report) had its target price trimmed by Rosenblatt Securities from $174.00 to $170.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently commented on LYV. Susquehanna started coverage on shares of Live Nation Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $155.00 price target for the company. Macquarie boosted their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Bank of America upped their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Finally, Morgan Stanley lifted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $159.13.

Live Nation Entertainment Trading Up 2.1 %

LYV stock traded up $2.77 during midday trading on Friday, reaching $134.11. 3,356,734 shares of the company traded hands, compared to its average volume of 2,236,462. The firm has a market capitalization of $31.39 billion, a price-to-earnings ratio of 49.31, a P/E/G ratio of 1.81 and a beta of 1.47. Live Nation Entertainment has a 52-week low of $86.81 and a 52-week high of $157.75. The business has a 50 day moving average of $128.41 and a 200-day moving average of $132.50. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The company had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business's quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, sell-side analysts expect that Live Nation Entertainment will post 2.38 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the transaction, the director now directly owns 52,624 shares of the company's stock, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares of the company's stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock valued at $10,497,143 over the last quarter. 2.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Large investors have recently modified their holdings of the business. Canada Pension Plan Investment Board grew its position in Live Nation Entertainment by 0.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company's stock worth $1,120,177,000 after purchasing an additional 44,703 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 4.0% during the first quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company's stock worth $991,952,000 after buying an additional 294,310 shares during the period. Independent Franchise Partners LLP grew its holdings in shares of Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock valued at $607,871,000 after buying an additional 3,168,210 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Live Nation Entertainment by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company's stock valued at $500,107,000 after acquiring an additional 108,293 shares during the period. Finally, Jericho Capital Asset Management L.P. raised its stake in Live Nation Entertainment by 32.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock worth $415,447,000 after acquiring an additional 777,105 shares during the last quarter. Hedge funds and other 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.