Wall Street brokerages expect Live Nation Entertainment, Inc. (NYSE:LYV) to report $2.06 billion in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Live Nation Entertainment’s earnings. The lowest sales estimate is $1.90 billion and the highest is $2.27 billion. Live Nation Entertainment posted sales of $1.80 billion in the same quarter last year, which suggests a positive year over year growth rate of 14.4%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Live Nation Entertainment will report full year sales of $2.06 billion for the current financial year, with estimates ranging from $9.69 billion to $10.06 billion. For the next year, analysts forecast that the firm will post sales of $10.69 billion per share, with estimates ranging from $10.29 billion to $11.32 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Live Nation Entertainment.
A number of research analysts have recently weighed in on LYV shares. Zacks Investment Research lowered Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Citigroup lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Friday, December 22nd. Macquarie restated a “buy” rating and set a $52.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, January 17th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 18th. Finally, Jefferies Group reiterated a “buy” rating and issued a $42.00 price target on shares of Live Nation Entertainment in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $44.57.
Shares of Live Nation Entertainment (LYV) traded down $0.36 during trading on Monday, hitting $42.74. The stock had a trading volume of 1,749,100 shares, compared to its average volume of 1,260,000. The stock has a market capitalization of $8,760.00, a price-to-earnings ratio of 2,138.07 and a beta of 1.01. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.39. Live Nation Entertainment has a 52-week low of $28.00 and a 52-week high of $46.99.
In related news, COO Joe Berchtold sold 20,000 shares of Live Nation Entertainment stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $43.08, for a total value of $861,600.00. Following the completion of the transaction, the chief operating officer now owns 97,918 shares in the company, valued at $4,218,307.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Rapino sold 210,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $43.21, for a total transaction of $9,074,100.00. Following the completion of the sale, the chief executive officer now directly owns 115,277 shares of the company’s stock, valued at approximately $4,981,119.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 900,000 shares of company stock valued at $40,215,600. 4.77% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. IHT Wealth Management LLC lifted its stake in Live Nation Entertainment by 58.5% in the second quarter. IHT Wealth Management LLC now owns 2,574 shares of the company’s stock worth $280,000 after purchasing an additional 950 shares during the last quarter. Assetmark Inc. bought a new stake in Live Nation Entertainment in the third quarter worth about $134,000. IFP Advisors Inc lifted its stake in Live Nation Entertainment by 85.4% in the fourth quarter. IFP Advisors Inc now owns 3,088 shares of the company’s stock worth $131,000 after purchasing an additional 1,422 shares during the last quarter. Massey Quick Simon & CO. LLC bought a new stake in Live Nation Entertainment in the third quarter worth about $167,000. Finally, US Bancorp DE lifted its stake in Live Nation Entertainment by 379.4% in the fourth quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $165,000 after purchasing an additional 3,062 shares during the last quarter. 68.43% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This report was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this report can be viewed at https://www.dispatchtribunal.com/2018/02/18/brokerages-expect-live-nation-entertainment-inc-lyv-will-announce-quarterly-sales-of-2-06-billion.html.
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.
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
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.