Northcoast Research Weighs in on Live Nation’s FY2019 Earnings (LYV)

Live Nation (NYSE:LYV) – Stock analysts at Northcoast Research decreased their FY2019 earnings estimates for shares of Live Nation in a research report issued to clients and investors on Wednesday, May 16th. Northcoast Research analyst J. Healy now anticipates that the company will earn $0.31 per share for the year, down from their previous estimate of $0.58. Northcoast Research currently has a “Buy” rating on the stock.

Live Nation (NYSE:LYV) last issued its earnings results on Thursday, May 3rd. The company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.05. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Live Nation had a negative net margin of 0.25% and a negative return on equity of 1.76%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.22) earnings per share.



A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Live Nation from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 21st. Macquarie restated a “buy” rating and set a $55.00 target price on shares of Live Nation in a report on Thursday, March 1st. Citigroup upgraded shares of Live Nation from a “neutral” rating to a “buy” rating in a report on Monday, April 9th. JPMorgan Chase set a $51.00 target price on shares of Live Nation and gave the stock a “buy” rating in a report on Thursday, April 5th. Finally, ValuEngine upgraded shares of Live Nation from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $49.14.

Shares of NYSE:LYV opened at $44.31 on Monday. The company has a market cap of $9.26 billion, a P/E ratio of -92.31 and a beta of 0.98. Live Nation has a 1-year low of $33.13 and a 1-year high of $49.11. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.00.

Several large investors have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its position in shares of Live Nation by 1.4% in the 4th quarter. Alliancebernstein L.P. now owns 84,900 shares of the company’s stock valued at $3,614,000 after acquiring an additional 1,160 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of Live Nation by 8.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 14,621 shares of the company’s stock valued at $616,000 after acquiring an additional 1,169 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Live Nation by 1.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 111,151 shares of the company’s stock valued at $4,687,000 after acquiring an additional 1,182 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Live Nation by 0.6% in the 4th quarter. California State Teachers Retirement System now owns 217,075 shares of the company’s stock valued at $9,241,000 after acquiring an additional 1,262 shares in the last quarter. Finally, Global X Management Co. LLC lifted its position in shares of Live Nation by 45.5% in the 4th quarter. Global X Management Co. LLC now owns 4,239 shares of the company’s stock valued at $180,000 after acquiring an additional 1,325 shares in the last quarter. Institutional investors and hedge funds own 69.42% of the company’s stock.

About Live Nation

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

Earnings History and Estimates for Live Nation (NYSE:LYV)

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