Brokerages Expect Live Nation Entertainment, Inc. (LYV) Will Announce Earnings of -$1.07 Per Share

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.

ILLEGAL ACTIVITY NOTICE: This article was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://www.dispatchtribunal.com/2018/01/20/brokerages-expect-live-nation-entertainment-inc-lyv-will-announce-earnings-of-1-07-per-share.html.

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.

Get a free copy of the Zacks research report on Live Nation Entertainment (LYV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply