Live Nation Entertainment (NYSE:LYV) Issues Earnings Results, Misses Expectations By $0.81 EPS

Live Nation Entertainment (NYSE:LYV) posted its earnings results on Tuesday. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81), Zacks reports. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%.

Live Nation Entertainment Price Performance

NYSE:LYV traded up $0.96 on Tuesday, reaching $150.80. The stock had a trading volume of 3,348,548 shares, compared to its average volume of 2,482,728. The company has a market capitalization of $35.36 billion, a P/E ratio of 65.28, a price-to-earnings-growth ratio of 12.85 and a beta of 1.40. Live Nation Entertainment has a 1-year low of $112.88 and a 1-year high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The stock has a fifty day moving average price of $160.28 and a 200-day moving average price of $150.88.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LYV shares. Rothschild & Co Redburn cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and upped their target price for the company from $144.00 to $170.00 in a research note on Tuesday, September 16th. The Goldman Sachs Group upped their target price on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Citigroup lowered their target price on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Susquehanna upped their target price on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research note on Monday. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $172.42.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently modified their holdings of LYV. MUFG Securities EMEA plc acquired a new position in shares of Live Nation Entertainment during the second quarter worth approximately $70,000. EverSource Wealth Advisors LLC lifted its position in shares of Live Nation Entertainment by 15.8% during the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after purchasing an additional 109 shares in the last quarter. ICONIQ Capital LLC acquired a new position in shares of Live Nation Entertainment during the second quarter worth approximately $201,000. Keel Point LLC acquired a new position in shares of Live Nation Entertainment during the second quarter worth approximately $218,000. Finally, Peapack Gladstone Financial Corp acquired a new position in shares of Live Nation Entertainment during the second quarter worth approximately $229,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

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.