Live Nation Entertainment, Inc. (LYV) Expected to Announce Earnings of -$0.78 Per Share

Equities analysts expect that Live Nation Entertainment, Inc. (NYSE:LYV) will announce earnings per share (EPS) of ($0.78) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Live Nation Entertainment’s earnings, with estimates ranging from ($0.88) to ($0.68). Live Nation Entertainment posted earnings of ($1.12) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 30.4%. The firm is expected to report its next earnings report on Tuesday, February 26th.

According to Zacks, analysts expect that Live Nation Entertainment will report full year earnings of ($0.03) per share for the current fiscal year, with EPS estimates ranging from ($0.14) to $0.08. For the next year, analysts anticipate that the firm will post earnings of $0.38 per share, with EPS estimates ranging from $0.21 to $0.50. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, November 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The business’s revenue was up 11.5% compared to the same quarter last year.

Several research firms have recently issued reports on LYV. ValuEngine lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 28th. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Stephens set a $60.00 price target on shares of Live Nation Entertainment and gave the company a “buy” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Finally, Jefferies Financial Group increased their price target on shares of Live Nation Entertainment from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $56.79.

NYSE LYV opened at $54.50 on Tuesday. Live Nation Entertainment has a 1 year low of $35.94 and a 1 year high of $58.26. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $11.71 billion, a PE ratio of -113.54 and a beta of 0.99.

In other Live Nation Entertainment news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $49.44, for a total transaction of $988,800.00. Following the completion of the transaction, the chief financial officer now owns 259,338 shares in the company, valued at $12,821,670.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Rowles sold 25,000 shares of the stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $56.47, for a total transaction of $1,411,750.00. Following the transaction, the executive vice president now owns 191,237 shares of the company’s stock, valued at approximately $10,799,153.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,000 shares of company stock valued at $7,714,040. 5.19% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Live Nation Entertainment by 6.0% during the third quarter. BlackRock Inc. now owns 13,741,840 shares of the company’s stock worth $748,517,000 after purchasing an additional 778,092 shares during the period. Canada Pension Plan Investment Board boosted its position in Live Nation Entertainment by 27.5% during the second quarter. Canada Pension Plan Investment Board now owns 9,709,300 shares of the company’s stock worth $471,581,000 after purchasing an additional 2,096,500 shares during the period. William Blair Investment Management LLC boosted its position in Live Nation Entertainment by 2.6% during the third quarter. William Blair Investment Management LLC now owns 6,744,057 shares of the company’s stock worth $367,349,000 after purchasing an additional 172,428 shares during the period. Select Equity Group L.P. boosted its position in Live Nation Entertainment by 50.6% during the third quarter. Select Equity Group L.P. now owns 6,720,593 shares of the company’s stock worth $366,071,000 after purchasing an additional 2,258,400 shares during the period. Finally, Findlay Park Partners LLP bought a new position in Live Nation Entertainment during the third quarter worth about $176,436,000. Hedge funds and other institutional investors own 68.22% of the company’s stock.

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

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