Live Nation Entertainment, Inc. (NYSE:LYV) Expected to Announce Quarterly Sales of $1.77 Billion

Equities analysts predict that Live Nation Entertainment, Inc. (NYSE:LYV) will announce sales of $1.77 billion for the current quarter, Zacks reports. Three analysts have provided estimates for Live Nation Entertainment’s earnings, with the highest sales estimate coming in at $1.83 billion and the lowest estimate coming in at $1.73 billion. Live Nation Entertainment posted sales of $1.73 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2.3%. The firm is scheduled to report its next quarterly earnings report on Thursday, May 7th.

According to Zacks, analysts expect that Live Nation Entertainment will report full-year sales of $12.43 billion for the current year, with estimates ranging from $12.12 billion to $12.76 billion. For the next year, analysts anticipate that the firm will report sales of $13.47 billion, with estimates ranging from $12.82 billion to $13.92 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.13). Live Nation Entertainment had a return on equity of 2.20% and a net margin of 0.27%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the firm earned ($0.79) EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year.

A number of analysts recently weighed in on LYV shares. Morgan Stanley cut their target price on shares of Live Nation Entertainment from $80.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday. Citigroup upgraded shares of Live Nation Entertainment from a “sell” rating to a “neutral” rating and dropped their price target for the company from $63.00 to $35.00 in a research note on Monday, March 23rd. Evercore ISI reissued a “buy” rating and issued a $82.00 price objective on shares of Live Nation Entertainment in a report on Sunday, December 22nd. Berenberg Bank downgraded Live Nation Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, ValuEngine raised Live Nation Entertainment from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $68.30.

In other Live Nation Entertainment news, Director Ariel Emanuel sold 71,394 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $58.26, for a total value of $4,159,414.44. Following the completion of the transaction, the director now owns 2,380 shares in the company, valued at $138,658.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles acquired 2,650 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of $37.57 per share, with a total value of $99,560.50. Following the transaction, the executive vice president now directly owns 193,056 shares of the company’s stock, valued at approximately $7,253,113.92. The disclosure for this purchase can be found here. Insiders acquired 30,300 shares of company stock valued at $1,185,318 in the last quarter. 4.82% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Guardian Life Insurance Co. of America purchased a new position in Live Nation Entertainment in the fourth quarter worth $30,000. Allred Capital Management LLC purchased a new position in shares of Live Nation Entertainment in the fourth quarter valued at $36,000. Neo Ivy Capital Management purchased a new position in shares of Live Nation Entertainment in the third quarter valued at $54,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Live Nation Entertainment by 56.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 831 shares of the company’s stock valued at $59,000 after buying an additional 300 shares in the last quarter. Finally, Pendal Group Ltd purchased a new position in shares of Live Nation Entertainment in the fourth quarter valued at $88,000. Hedge funds and other institutional investors own 69.70% of the company’s stock.

NYSE:LYV traded up $0.94 on Wednesday, reaching $34.51. 7,795,944 shares of the company’s stock were exchanged, compared to its average volume of 4,585,764. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.17. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of -492.93 and a beta of 1.32. The business has a fifty day moving average of $52.84 and a 200-day moving average of $65.03. Live Nation Entertainment has a 52-week low of $21.70 and a 52-week high of $76.60.

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 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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