Live Nation Entertainment (NYSE:LYV) Stock Price Target Cut by JPMorgan Chase & Co.

Live Nation Entertainment (NYSE:LYV) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $205.00 to $200.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 14.02% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Citizens Jmp lifted their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 22nd. Morgan Stanley boosted their target price on shares of Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, October 19th. Cfra lowered shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, October 20th. Finally, Benchmark increased their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $197.67.

Live Nation Entertainment Trading Up 0.1%

Shares of Live Nation Entertainment stock opened at $175.40 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 6.64. The firm has a market cap of $41.33 billion, a price-to-earnings ratio of -1,031.78 and a beta of 1.15. The business has a fifty day simple moving average of $172.84 and a 200-day simple moving average of $167.41. Live Nation Entertainment has a fifty-two week low of $125.34 and a fifty-two week high of $189.24.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, November 5th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. The business had revenue of $10.11 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Live Nation Entertainment had a return on equity of 55.62% and a net margin of 0.38%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the business posted $0.73 earnings per share. On average, equities analysts forecast that Live Nation Entertainment will post 1.06 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares of the company’s stock, valued at $1,592,520. The trade was a 25.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Burkett Financial Services LLC acquired a new stake in Live Nation Entertainment during the second quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $27,000. Meeder Asset Management Inc. acquired a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $27,000. Kilter Group LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $27,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $32,000. 74.52% of the stock is owned by institutional investors.

About Live Nation Entertainment

Live Nation Entertainment, Inc is a live entertainment company that promotes concerts, operates and manages venues, and provides ticketing services. Its activities span the live-event process, from helping artists plan and promote tours to connecting fans with events.

The company’s businesses include concert promotion and venue operations, ticketing through Ticketmaster, and sponsorship and advertising services for brands seeking to reach live-event audiences. Ticketmaster provides ticket sales and related technology for concerts and other events.

Live Nation was formed in 2010 through the merger of concert promoter Live Nation and ticketing company Ticketmaster.