Live Nation Entertainment (LYV) Downgraded to “Neutral” at Citigroup

Live Nation Entertainment (NYSE:LYV) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a report released on Saturday, December 30th.

Several other analysts have also commented on the company. Zacks Investment Research lowered Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Jefferies Group boosted their price target on Live Nation Entertainment from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 18th. Finally, Macquarie reiterated a “buy” rating and issued a $48.00 price objective on shares of Live Nation Entertainment in a research report on Sunday, November 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $44.00.

Live Nation Entertainment (NYSE:LYV) opened at $44.43 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $9,190.00, a P/E ratio of 2,222.61 and a beta of 1.06. Live Nation Entertainment has a 1 year low of $27.00 and a 1 year high of $46.99.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.02). Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period in the previous year, the business posted $0.49 EPS. Live Nation Entertainment’s revenue for the quarter was up 12.3% compared to the same quarter last year. equities analysts anticipate that Live Nation Entertainment will post 0.14 earnings per share for the current year.

In other news, EVP Michael Rowles sold 46,511 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $43.35, for a total transaction of $2,016,251.85. Following the completion of the sale, the executive vice president now owns 192,054 shares in the company, valued at $8,325,540.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Rapino sold 70,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $42.87, for a total value of $3,000,900.00. Following the sale, the chief executive officer now owns 115,277 shares of the company’s stock, valued at approximately $4,941,924.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,106,511 shares of company stock valued at $49,467,752. 4.77% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in LYV. Assetmark Inc. bought a new stake in shares of Live Nation Entertainment during the third quarter worth $134,000. Massey Quick Simon & CO. LLC bought a new stake in Live Nation Entertainment in the third quarter valued at about $167,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Live Nation Entertainment by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after purchasing an additional 445 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new stake in Live Nation Entertainment in the third quarter valued at about $209,000. Finally, Neuberger Berman Group LLC increased its holdings in Live Nation Entertainment by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 7,830 shares of the company’s stock valued at $273,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 68.06% of the company’s stock.

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Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Analyst Recommendations for Live Nation Entertainment (NYSE:LYV)

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