Analysts Expect Live Nation Entertainment, Inc. (NYSE:LYV) to Post $0.84 EPS

Wall Street analysts expect that Live Nation Entertainment, Inc. (NYSE:LYV) will announce earnings per share (EPS) of $0.84 for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Live Nation Entertainment’s earnings. The lowest EPS estimate is $0.75 and the highest is $0.94. Live Nation Entertainment reported earnings per share of $0.70 during the same quarter last year, which suggests a positive year-over-year growth rate of 20%. The business is expected to report its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Live Nation Entertainment will report full-year earnings of $0.28 per share for the current year, with EPS estimates ranging from $0.15 to $0.39. For the next fiscal year, analysts forecast that the company will report earnings of $0.63 per share, with EPS estimates ranging from $0.41 to $0.91. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, July 25th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. Live Nation Entertainment had a return on equity of 4.49% and a net margin of 0.55%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the firm earned $0.24 EPS. Live Nation Entertainment’s revenue for the quarter was up 10.1% compared to the same quarter last year.

LYV has been the topic of a number of recent research reports. ValuEngine lowered Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Atlantic Securities initiated coverage on Live Nation Entertainment in a research report on Tuesday, June 11th. They issued an “overweight” rating and a $75.00 target price on the stock. Citigroup reissued a “buy” rating on shares of Healthequity in a research report on Friday, June 28th. Berenberg Bank reissued a “buy” rating and issued a GBX 340 ($4.44) target price on shares of Stock Spirits Group in a research report on Tuesday, May 14th. Finally, Zacks Investment Research lowered Green Plains Partners from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $68.57.

Live Nation Entertainment stock traded up $0.90 during midday trading on Tuesday, reaching $72.10. The stock had a trading volume of 934,100 shares, compared to its average volume of 1,186,416. The company’s fifty day moving average is $68.43. Live Nation Entertainment has a 1-year low of $46.02 and a 1-year high of $73.71. The stock has a market capitalization of $15.56 billion, a PE ratio of -801.11 and a beta of 1.13. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 2.73.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 5,447 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $62.45, for a total transaction of $340,165.15. Following the transaction, the director now owns 67,886 shares of the company’s stock, valued at approximately $4,239,480.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 67,840 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $63.14, for a total value of $4,283,417.60. The disclosure for this sale can be found here. Insiders have sold a total of 89,077 shares of company stock worth $5,643,290 in the last ninety days. Insiders own 4.82% of the company’s stock.

Large investors have recently bought and sold shares of the business. Aperio Group LLC boosted its stake in Live Nation Entertainment by 1.9% in the 2nd quarter. Aperio Group LLC now owns 53,649 shares of the company’s stock valued at $3,555,000 after purchasing an additional 1,009 shares during the period. KBC Group NV boosted its stake in Live Nation Entertainment by 736.0% in the 2nd quarter. KBC Group NV now owns 73,759 shares of the company’s stock valued at $4,886,000 after purchasing an additional 64,936 shares during the period. Janney Montgomery Scott LLC boosted its stake in Live Nation Entertainment by 214.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 16,457 shares of the company’s stock valued at $1,090,000 after purchasing an additional 11,230 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Live Nation Entertainment in the 2nd quarter valued at $721,000. Finally, BP PLC bought a new stake in Live Nation Entertainment in the 2nd quarter valued at $864,000. 70.06% of the stock is currently 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 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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