Evercore ISI Issues Pessimistic Forecast for Live Nation Entertainment (NYSE:LYV) Stock Price

Live Nation Entertainment (NYSE:LYV) had its price objective reduced by research analysts at Evercore ISI from $180.00 to $168.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price target points to a potential upside of 11.41% from the stock’s previous close.

A number of other analysts also recently issued reports on LYV. Moffett Nathanson began coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 price target on the stock. Rothschild Redb cut Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Morgan Stanley dropped their price target on Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 8th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $172.84.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $150.80 on Wednesday. Live Nation Entertainment has a 12-month low of $112.88 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. The stock has a market capitalization of $35.36 billion, a P/E ratio of 65.28, a P/E/G ratio of 12.85 and a beta of 1.40. The stock has a 50-day moving average price of $159.96 and a 200 day moving average price of $151.04.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.87 billion. During the same period last year, the business earned $1.66 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts forecast that Live Nation Entertainment will post 2.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in LYV. Fifth Third Wealth Advisors LLC boosted its stake in shares of Live Nation Entertainment by 2.5% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after purchasing an additional 69 shares during the period. Gilbert & Cook Inc. boosted its position in shares of Live Nation Entertainment by 1.4% during the first quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock valued at $723,000 after buying an additional 75 shares during the period. Vident Advisory LLC raised its holdings in shares of Live Nation Entertainment by 2.1% in the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after buying an additional 75 shares during the period. Private Trust Co. NA raised its holdings in shares of Live Nation Entertainment by 24.4% in the third quarter. Private Trust Co. NA now owns 418 shares of the company’s stock worth $68,000 after buying an additional 82 shares during the period. Finally, Greenleaf Trust lifted its stake in shares of Live Nation Entertainment by 5.8% during the 3rd quarter. Greenleaf Trust now owns 1,680 shares of the company’s stock worth $275,000 after acquiring an additional 92 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.