-$0.74 EPS Expected for Live Nation Entertainment, Inc. (LYV) This Quarter

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.

Several research analysts have recently weighed in on the stock. Macquarie reiterated a “buy” rating and issued a $60.00 price target on shares of Live Nation Entertainment in a report on Thursday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Finally, ValuEngine raised shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Live Nation Entertainment presently has an average rating of “Buy” and an average target price of $57.35.

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.

Read More: Short Selling Stocks, A Beginner’s Guide

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

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

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.

Leave a Reply