Live Nation Entertainment, Inc. (NYSE:LYV) Expected to Announce Quarterly Sales of $321.52 Million

Wall Street brokerages expect that Live Nation Entertainment, Inc. (NYSE:LYV) will announce sales of $321.52 million for the current quarter, according to Zacks. Three analysts have provided estimates for Live Nation Entertainment’s earnings. The highest sales estimate is $378.16 million and the lowest is $271.80 million. Live Nation Entertainment reported sales of $1.37 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 76.5%. The company is scheduled to issue its next quarterly earnings results on Thursday, May 6th.

According to Zacks, analysts expect that Live Nation Entertainment will report full-year sales of $5.91 billion for the current fiscal year, with estimates ranging from $4.63 billion to $7.11 billion. For the next year, analysts expect that the company will report sales of $11.86 billion, with estimates ranging from $11.14 billion to $12.55 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 25th. The company reported ($2.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($2.42) by $0.38. The business had revenue of $237.30 million during the quarter, compared to the consensus estimate of $257.15 million. Live Nation Entertainment had a negative return on equity of 161.81% and a negative net margin of 32.49%.

Several analysts have commented on LYV shares. Zacks Investment Research raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, March 17th. Cowen upped their price objective on Live Nation Entertainment from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 26th. Finally, Morgan Stanley upped their price objective on Live Nation Entertainment from $56.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 17th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $65.00.

LYV traded down $1.80 on Friday, hitting $80.25. 2,302,151 shares of the company traded hands, compared to its average volume of 2,386,169. The company has a 50 day moving average of $87.11 and a 200-day moving average of $72.10. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 19.63. The stock has a market capitalization of $17.50 billion, a PE ratio of -11.65 and a beta of 1.38. Live Nation Entertainment has a 12-month low of $35.25 and a 12-month high of $94.63.

In related news, EVP Michael Rowles sold 73,869 shares of the company’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $90.01, for a total value of $6,648,948.69. Following the sale, the executive vice president now owns 225,767 shares in the company, valued at approximately $20,321,287.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Joe Berchtold sold 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $91.80, for a total value of $7,803,000.00. Following the completion of the sale, the president now owns 915,769 shares in the company, valued at approximately $84,067,594.20. The disclosure for this sale can be found here. Insiders have sold a total of 420,369 shares of company stock worth $37,596,584 in the last quarter. 5.48% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc grew its holdings in shares of Live Nation Entertainment by 448.1% in the 4th quarter. NEXT Financial Group Inc now owns 444 shares of the company’s stock worth $32,000 after acquiring an additional 363 shares during the period. Signaturefd LLC grew its holdings in shares of Live Nation Entertainment by 92.9% in the 4th quarter. Signaturefd LLC now owns 486 shares of the company’s stock worth $36,000 after acquiring an additional 234 shares during the period. San Francisco Sentry Investment Group CA acquired a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $37,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Live Nation Entertainment by 76.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 509 shares of the company’s stock worth $37,000 after acquiring an additional 220 shares during the period. Finally, Vantage Consulting Group Inc acquired a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Ticketing, and Sponsorship & Advertising 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; produces music festivals; creates associated content; and offers management and other services to artists.

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

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