Analysts Expect Live Nation Entertainment, Inc. (NYSE:LYV) Will Announce Quarterly Sales of $4.19 Billion

Equities research analysts predict that Live Nation Entertainment, Inc. (NYSE:LYV) will post $4.19 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Live Nation Entertainment’s earnings, with estimates ranging from $4.02 billion to $4.41 billion. Live Nation Entertainment reported sales of $3.84 billion during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The company is expected to announce its next earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Live Nation Entertainment will report full year sales of $11.95 billion for the current year, with estimates ranging from $11.64 billion to $12.23 billion. For the next fiscal year, analysts forecast that the firm will report sales of $12.96 billion, with estimates ranging from $12.33 billion to $13.58 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Live Nation Entertainment.

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

LYV has been the subject of a number of analyst reports. Guggenheim set a $80.00 price objective on Live Nation Entertainment and gave the company a “buy” rating in a research report on Thursday, August 29th. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Berenberg Bank started coverage on shares of Live Nation Entertainment in a research note on Tuesday, May 14th. They set a “buy” rating and a $73.00 price target for the company. Citigroup cut shares of Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 price target on the stock. in a report on Friday, June 28th. Finally, Atlantic Securities assumed coverage on Live Nation Entertainment in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $75.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Live Nation Entertainment has an average rating of “Buy” and a consensus target price of $70.00.

LYV traded up $1.62 on Friday, hitting $70.27. 1,649,022 shares of the company’s stock were exchanged, compared to its average volume of 1,133,836. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.73. The stock has a fifty day moving average of $70.81 and a two-hundred day moving average of $65.96. Live Nation Entertainment has a twelve month low of $46.02 and a twelve month high of $73.71. The firm has a market cap of $14.66 billion, a PE ratio of -780.78 and a beta of 1.17.

In other news, EVP Michael Rowles sold 67,840 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $71.71, for a total value of $4,864,806.40. Following the transaction, the executive vice president now owns 257,691 shares of the company’s stock, valued at $18,479,021.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.82% of the company’s stock.

Several large investors have recently made changes to their positions in LYV. Parallel Advisors LLC boosted its holdings in Live Nation Entertainment by 81.0% in the first quarter. Parallel Advisors LLC now owns 543 shares of the company’s stock valued at $35,000 after acquiring an additional 243 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Live Nation Entertainment during the second quarter worth $37,000. Icon Wealth Partners LLC purchased a new stake in shares of Live Nation Entertainment during the 1st quarter valued at $40,000. Hilton Capital Management LLC purchased a new stake in shares of Live Nation Entertainment during the 1st quarter valued at $69,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter worth $80,000. Institutional investors own 69.42% of the company’s stock.

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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