Analysts expect Live Nation Entertainment, Inc. (NYSE:LYV) to post ($1.07) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have provided estimates for Live Nation Entertainment’s earnings, with estimates ranging from ($1.25) to ($1.00). Live Nation Entertainment posted earnings of ($0.58) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 84.5%. The firm is expected to announce its next earnings results on Thursday, February 22nd.
On average, analysts expect that Live Nation Entertainment will report full year earnings of ($0.43) per share for the current fiscal year, with EPS estimates ranging from ($0.61) to ($0.33). For the next fiscal year, analysts forecast that the firm will report earnings of $0.43 per share, with EPS estimates ranging from $0.25 to $0.65. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Live Nation Entertainment.
Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.36 billion. Live Nation Entertainment had a return on equity of 3.33% and a net margin of 0.50%. Live Nation Entertainment’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS.
Several research analysts have recently issued reports on the company. Macquarie restated a “buy” rating and issued a $52.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday. Jefferies Group restated a “buy” rating and issued a $42.00 price objective on shares of Live Nation Entertainment in a research note on Monday, October 16th. Zacks Investment Research upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, October 10th. JPMorgan Chase & Co. restated a “buy” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 18th. Finally, Citigroup cut Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Saturday, December 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation Entertainment presently has an average rating of “Buy” and a consensus target price of $44.57.
In related news, EVP Michael Rowles sold 46,511 shares of Live Nation Entertainment stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 192,054 shares in the company, valued at $8,325,540.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Rapino sold 70,000 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $45.46, for a total value of $3,182,200.00. Following the transaction, the chief executive officer now owns 395,277 shares of the company’s stock, valued at $17,969,292.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,106,511 shares of company stock valued at $49,467,752. 4.77% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Live Nation Entertainment by 4.3% during the second quarter. Vanguard Group Inc. now owns 10,866,455 shares of the company’s stock valued at $378,695,000 after acquiring an additional 451,457 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings 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 valued at $252,002,000 after purchasing an additional 5,715,400 shares during the period. State Street Corp grew its holdings 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 valued at $121,878,000 after purchasing an additional 95,764 shares during the period. Acadian Asset Management LLC grew its holdings in Live Nation Entertainment by 5.1% in the fourth quarter. Acadian Asset Management LLC now owns 2,364,397 shares of the company’s stock valued at $100,651,000 after purchasing an additional 114,171 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Live Nation Entertainment by 24.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,813,800 shares of the company’s stock valued at $78,991,000 after purchasing an additional 356,715 shares during the period. Institutional investors own 68.08% of the company’s stock.
Shares of Live Nation Entertainment (NYSE LYV) traded up $0.51 during midday trading on Wednesday, reaching $43.70. The company’s stock had a trading volume of 1,461,338 shares, compared to its average volume of 952,436. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $8,931.69, a P/E ratio of 2,186.09 and a beta of 1.06. Live Nation Entertainment has a fifty-two week low of $27.22 and a fifty-two week high of $46.99.
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About Live Nation Entertainment
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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