Equities analysts expect Live Nation Entertainment, Inc. (NYSE:LYV) to post ($0.45) earnings per share for the current quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Live Nation Entertainment’s earnings. The highest EPS estimate is ($0.27) and the lowest is ($0.58). Live Nation Entertainment posted earnings per share of ($0.58) during the same quarter last year, which indicates a positive year over year growth rate of 22.4%. The firm is expected to announce its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Live Nation Entertainment will report full year earnings of $0.18 per share for the current year, with EPS estimates ranging from $0.02 to $0.41. For the next fiscal year, analysts anticipate that the business will report earnings of $0.50 per share, with EPS estimates ranging from $0.13 to $0.91. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Live Nation Entertainment.
Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.36 billion. Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share.
A number of brokerages have recently issued reports on LYV. Macquarie reaffirmed a “buy” rating and set a $48.00 price target on shares of Live Nation Entertainment in a report on Sunday, November 5th. Zacks Investment Research raised Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, October 24th. Jefferies Group LLC reissued a “buy” rating and issued a $42.00 target price on shares of Live Nation Entertainment in a report on Monday, October 16th. J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. Finally, Stephens reissued an “overweight” rating and issued a $44.00 target price (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $42.86.
In other Live Nation Entertainment news, insider Brian Capo sold 7,500 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the sale, the insider now owns 13,354 shares in the company, valued at $540,837. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Rowles sold 46,511 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $43.35, for a total value of $2,016,251.85. Following the completion of the sale, the executive vice president now owns 192,054 shares of the company’s stock, valued at approximately $8,325,540.90. The disclosure for this sale can be found here. In the last three months, insiders sold 64,011 shares of company stock worth $2,735,602. 4.77% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Live Nation Entertainment by 4.3% in the second quarter. Vanguard Group Inc. now owns 10,866,455 shares of the company’s stock worth $378,695,000 after buying an additional 451,457 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Live Nation Entertainment by 8,038.5% in the third quarter. Canada Pension Plan Investment Board now owns 5,786,500 shares of the company’s stock worth $252,002,000 after buying an additional 5,715,400 shares in the last quarter. Principal Financial Group Inc. increased its position in Live Nation Entertainment by 2.4% in the second quarter. Principal Financial Group Inc. now owns 5,200,396 shares of the company’s stock worth $181,234,000 after buying an additional 120,428 shares in the last quarter. State Street Corp increased its position in Live Nation Entertainment by 2.8% in the second quarter. State Street Corp now owns 3,497,318 shares of the company’s stock worth $121,878,000 after buying an additional 95,764 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in Live Nation Entertainment in the second quarter worth about $109,693,000. Institutional investors and hedge funds own 68.39% of the company’s stock.
Shares of Live Nation Entertainment (NYSE LYV) traded down $0.08 during trading hours on Wednesday, hitting $44.77. The stock had a trading volume of 1,221,900 shares, compared to its average volume of 1,359,545. The company has a market capitalization of $9,274.97, a P/E ratio of 2,242.50 and a beta of 1.07. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. Live Nation Entertainment has a 1 year low of $26.41 and a 1 year high of $45.72.
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.
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