Live Nation Entertainment, Inc. (NYSE:LYV) Expected to Post Quarterly Sales of $4.19 Billion

Equities research analysts expect that Live Nation Entertainment, Inc. (NYSE:LYV) will report sales of $4.19 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Live Nation Entertainment’s earnings. The highest sales estimate is $4.41 billion and the lowest is $4.02 billion. Live Nation Entertainment reported sales of $3.84 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.1%. The firm is scheduled to issue its next earnings report on Thursday, November 7th.

On average, analysts expect that Live Nation Entertainment will report full year sales of $11.92 billion for the current fiscal year, with estimates ranging from $11.64 billion to $12.23 billion. For the next fiscal year, analysts anticipate that the business will report sales of $12.91 billion, with estimates ranging from $12.33 billion to $13.58 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Live Nation Entertainment.

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

LYV has been the topic of several recent analyst reports. Citigroup downgraded Live Nation Entertainment from a “neutral” rating to a “sell” rating and set a $63.00 target price on the stock. in a report on Friday, June 28th. Berenberg Bank initiated coverage on Live Nation Entertainment in a report on Tuesday, May 14th. They issued a “buy” rating and a $73.00 target price on the stock. Atlantic Securities initiated coverage on Live Nation Entertainment in a report on Tuesday, June 11th. They issued an “overweight” rating and a $75.00 target price on the stock. ValuEngine upgraded shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research cut shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Live Nation Entertainment currently has a consensus rating of “Buy” and a consensus price target of $68.57.

Shares of LYV traded down $0.73 on Friday, hitting $70.72. The company’s stock had a trading volume of 555,349 shares, compared to its average volume of 909,085. The company has a market capitalization of $15.31 billion, a PE ratio of -785.78 and a beta of 1.11. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.93 and a quick ratio of 0.93. Live Nation Entertainment has a fifty-two week low of $46.02 and a fifty-two week high of $73.71. The company has a 50 day moving average price of $70.81 and a 200 day moving average price of $64.59.

In related news, EVP Michael Rowles sold 67,840 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $63.14, for a total value of $4,283,417.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the director now owns 67,886 shares of the company’s stock, valued at approximately $4,239,480.70. The disclosure for this sale can be found here. Insiders sold a total of 141,127 shares of company stock valued at $9,488,389 in the last 90 days. 4.82% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of LYV. Advisor Partners LLC raised its position in shares of Live Nation Entertainment by 3.4% during the 1st quarter. Advisor Partners LLC now owns 4,625 shares of the company’s stock valued at $294,000 after acquiring an additional 153 shares during the last quarter. Piedmont Investment Advisors Inc. raised its position in shares of Live Nation Entertainment by 1.2% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 13,816 shares of the company’s stock valued at $878,000 after acquiring an additional 164 shares during the last quarter. CWM LLC raised its position in shares of Live Nation Entertainment by 59.5% during the 1st quarter. CWM LLC now owns 622 shares of the company’s stock valued at $40,000 after acquiring an additional 232 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Live Nation Entertainment by 1.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 16,329 shares of the company’s stock valued at $1,081,000 after acquiring an additional 235 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Live Nation Entertainment by 81.0% during the 1st 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. Hedge funds and other institutional investors own 70.18% of the company’s stock.

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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