Brokerages expect that Live Nation Entertainment, Inc. (NYSE:LYV) will report $3.73 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Live Nation Entertainment’s earnings. The lowest sales estimate is $3.65 billion and the highest is $3.86 billion. Live Nation Entertainment reported sales of $3.56 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The firm is expected to announce its next quarterly earnings report on Thursday, November 1st.
On average, analysts expect that Live Nation Entertainment will report full year sales of $10.49 billion for the current year, with estimates ranging from $10.21 billion to $10.92 billion. For the next fiscal year, analysts expect that the firm will post sales of $11.31 billion per share, with estimates ranging from $10.79 billion to $12.11 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Live Nation Entertainment.
Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, July 26th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Live Nation Entertainment had a negative net margin of 0.35% and a negative return on equity of 2.49%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS.
Live Nation Entertainment traded up $0.36, hitting $49.48, on Friday, Marketbeat Ratings reports. The company had a trading volume of 1,014,700 shares, compared to its average volume of 1,591,805. The company has a market cap of $10.30 billion, a price-to-earnings ratio of -103.08 and a beta of 1.03. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment has a 52 week low of $35.94 and a 52 week high of $52.84.
In other news, Director Robert Ted Enloe III sold 4,389 shares of the firm’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $45.11, for a total transaction of $197,987.79. Following the completion of the transaction, the director now owns 26,897 shares of the company’s stock, valued at $1,213,323.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.19% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in LYV. Eaton Vance Management raised its stake in shares of Live Nation Entertainment by 1,296.3% during the first quarter. Eaton Vance Management now owns 928,234 shares of the company’s stock valued at $39,116,000 after acquiring an additional 861,757 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of Live Nation Entertainment during the first quarter valued at $23,929,000. Mackay Shields LLC bought a new position in shares of Live Nation Entertainment during the first quarter valued at $22,209,000. Atlantic Trust Group LLC bought a new position in shares of Live Nation Entertainment during the first quarter valued at $17,164,000. Finally, Bluestein R H & Co. raised its stake in shares of Live Nation Entertainment by 3,908.6% during the first quarter. Bluestein R H & Co. now owns 392,844 shares of the company’s stock valued at $16,554,000 after acquiring an additional 383,044 shares during the last quarter. 67.57% of the stock is owned by hedge funds and other institutional investors.
About Live Nation Entertainment
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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