Equities analysts forecast that Live Nation Entertainment, Inc. (NYSE:LYV) will post earnings of ($0.70) per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Live Nation Entertainment’s earnings. The highest EPS estimate is ($0.45) and the lowest is ($0.85). Live Nation Entertainment reported earnings of ($0.82) per share during the same quarter last year, which would suggest a positive year over year growth rate of 14.6%. The firm is expected to issue its next earnings report on Thursday, February 27th.
On average, analysts expect that Live Nation Entertainment will report full-year earnings of $0.10 per share for the current financial year, with EPS estimates ranging from $0.00 to $0.22. For the next fiscal year, analysts forecast that the business will report earnings of $0.44 per share, with EPS estimates ranging from ($0.24) to $1.17. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Live Nation Entertainment.
Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.08). The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $4.07 billion. Live Nation Entertainment had a net margin of 0.61% and a return on equity of 4.96%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 earnings per share.
Several analysts have recently issued reports on the stock. Evercore ISI raised shares of Live Nation Entertainment from an “in-line” rating to an “outperform” rating in a research note on Monday, November 11th. ValuEngine raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group set a $84.00 price objective on shares of Live Nation Entertainment and gave the company a “buy” rating in a research note on Friday, October 25th. Morgan Stanley assumed coverage on shares of Live Nation Entertainment in a research note on Tuesday, October 8th. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, Guggenheim set a $84.00 price objective on shares of Live Nation Entertainment and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $75.00.
In related news, Director James S. Kahan acquired 4,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was bought at an average cost of $61.54 per share, with a total value of $276,930.00. Following the purchase, the director now directly owns 82,821 shares of the company’s stock, valued at $5,096,804.34. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.82% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Select Equity Group L.P. boosted its position in Live Nation Entertainment by 23.6% during the 3rd quarter. Select Equity Group L.P. now owns 7,893,108 shares of the company’s stock worth $523,629,000 after purchasing an additional 1,505,686 shares during the period. Findlay Park Partners LLP boosted its position in Live Nation Entertainment by 19.7% during the 3rd quarter. Findlay Park Partners LLP now owns 6,537,000 shares of the company’s stock worth $433,665,000 after purchasing an additional 1,075,000 shares during the period. Nuveen Asset Management LLC purchased a new stake in Live Nation Entertainment during the 2nd quarter worth $36,074,000. Vanguard Group Inc. boosted its position in Live Nation Entertainment by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,451,018 shares of the company’s stock worth $824,880,000 after purchasing an additional 254,042 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in Live Nation Entertainment by 23.5% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,042,558 shares of the company’s stock worth $69,069,000 after purchasing an additional 198,558 shares during the period. 68.16% of the stock is owned by institutional investors.
Shares of NYSE LYV traded down $5.09 during trading on Friday, hitting $64.34. 4,300,076 shares of the company traded hands, compared to its average volume of 997,201. Live Nation Entertainment has a 1 year low of $46.02 and a 1 year high of $74.02. The company has a 50-day moving average price of $67.51 and a 200-day moving average price of $68.02. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.49.
Live Nation Entertainment Company Profile
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 or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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