William Blair Equities Analysts Boost Earnings Estimates for Live Nation Entertainment, Inc. (LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – William Blair boosted their FY2017 earnings estimates for shares of Live Nation Entertainment in a research note issued to investors on Thursday. William Blair analyst R. Sundby now forecasts that the company will post earnings of $0.38 per share for the year, up from their prior forecast of $0.20. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Live Nation Entertainment’s Q4 2017 earnings at ($0.44) EPS and FY2018 earnings at $0.54 EPS.

Several other equities research analysts also recently weighed in on LYV. Stephens reissued an “overweight” rating and set a $44.00 price objective (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a report on Friday, August 11th. Zacks Investment Research downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating and set a $33.00 price objective on shares of Live Nation Entertainment in a report on Monday, April 24th. Finally, Guggenheim began coverage on Live Nation Entertainment in a report on Wednesday, May 24th. They set a “buy” rating and a $40.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $38.75.

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Live Nation Entertainment (NYSE:LYV) traded up 0.05% during midday trading on Monday, hitting $39.81. The stock had a trading volume of 93,983 shares. Live Nation Entertainment has a 52 week low of $25.56 and a 52 week high of $42.20. The company has a market capitalization of $8.16 billion, a PE ratio of 5687.14 and a beta of 1.00. The company’s 50-day moving average price is $36.40 and its 200 day moving average price is $32.79.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Wednesday, August 9th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The company had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.37 billion. Live Nation Entertainment had a return on equity of 1.60% and a net margin of 0.25%. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 6,337 shares of Live Nation Entertainment stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $35.82, for a total transaction of $226,991.34. Following the transaction, the director now directly owns 23,450 shares of the company’s stock, valued at approximately $839,979. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of Live Nation Entertainment stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $34.86, for a total value of $697,200.00. Following the transaction, the chief financial officer now directly owns 286,216 shares in the company, valued at $9,977,489.76. The disclosure for this sale can be found here. 4.77% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Colony Group LLC increased its position in shares of Live Nation Entertainment by 0.7% in the second quarter. Colony Group LLC now owns 76,495 shares of the company’s stock valued at $2,666,000 after buying an additional 540 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Live Nation Entertainment by 2.5% in the second quarter. Ameritas Investment Partners Inc. now owns 40,205 shares of the company’s stock valued at $1,401,000 after buying an additional 989 shares during the last quarter. Nomura Holdings Inc. increased its position in shares of Live Nation Entertainment by 75.2% in the second quarter. Nomura Holdings Inc. now owns 36,725 shares of the company’s stock valued at $1,280,000 after buying an additional 15,769 shares during the last quarter. IHT Wealth Management LLC increased its position in shares of Live Nation Entertainment by 58.5% in the second quarter. IHT Wealth Management LLC now owns 2,574 shares of the company’s stock valued at $280,000 after buying an additional 950 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Live Nation Entertainment by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 198,179 shares of the company’s stock valued at $6,906,000 after buying an additional 5,319 shares during the last quarter. 65.62% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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