Equities research analysts expect Live Nation Entertainment, Inc. (NYSE:LYV) to announce earnings of ($0.74) per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Live Nation Entertainment’s earnings, with the highest EPS estimate coming in at ($0.68) and the lowest estimate coming in at ($0.82). Live Nation Entertainment reported earnings of ($1.12) per share during the same quarter last year, which indicates a positive year over year growth rate of 33.9%. The company is scheduled to announce its next earnings report on Tuesday, February 26th.
On average, analysts expect that Live Nation Entertainment will report full year earnings of ($0.03) per share for the current year, with EPS estimates ranging from ($0.06) to $0.02. For the next year, analysts anticipate that the business will post earnings of $0.40 per share, with EPS estimates ranging from $0.32 to $0.45. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Live Nation Entertainment.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.72 billion. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS.
In other news, EVP Michael Rowles sold 25,000 shares of the business’s stock in a transaction on Friday, November 9th. The shares were sold at an average price of $56.47, for a total value of $1,411,750.00. Following the sale, the executive vice president now owns 191,237 shares of the company’s stock, valued at $10,799,153.39. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert Ted Enloe III sold 7,000 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $54.07, for a total transaction of $378,490.00. Following the completion of the sale, the director now directly owns 17,508 shares in the company, valued at approximately $946,657.56. The disclosure for this sale can be found here. Insiders own 5.19% of the company’s stock.
Several hedge funds have recently made changes to their positions in LYV. NumerixS Investment Technologies Inc raised its position in Live Nation Entertainment by 130.8% during the second quarter. NumerixS Investment Technologies Inc now owns 4,171 shares of the company’s stock worth $203,000 after acquiring an additional 2,364 shares in the last quarter. Pinnacle Associates Ltd. bought a new stake in Live Nation Entertainment during the second quarter worth $205,000. Advisor Partners LLC bought a new stake in Live Nation Entertainment during the third quarter worth $215,000. MML Investors Services LLC bought a new stake in Live Nation Entertainment during the third quarter worth $244,000. Finally, Cornerstone Wealth Management LLC bought a new stake in Live Nation Entertainment during the third quarter worth $250,000. 68.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Live Nation Entertainment stock traded down $0.07 on Thursday, hitting $54.62. The company had a trading volume of 762,092 shares, compared to its average volume of 1,504,835. The stock has a market capitalization of $11.35 billion, a PE ratio of -113.79 and a beta of 1.04. Live Nation Entertainment has a twelve month low of $35.94 and a twelve month high of $58.26. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.76.
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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