Wall Street analysts expect that Live Nation Entertainment, Inc. (NYSE:LYV) will post $279.43 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Live Nation Entertainment’s earnings. The lowest sales estimate is $201.20 million and the highest is $346.70 million. Live Nation Entertainment posted sales of $2.89 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 90.3%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, February 25th.
On average, analysts expect that Live Nation Entertainment will report full-year sales of $1.94 billion for the current year, with estimates ranging from $1.83 billion to $2.04 billion. For the next year, analysts forecast that the firm will report sales of $6.78 billion, with estimates ranging from $6.13 billion to $7.16 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Live Nation Entertainment.
LYV has been the topic of several research reports. Macquarie downgraded Live Nation Entertainment from an “outperform” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research report on Monday, November 30th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, February 17th. Jefferies Financial Group lowered shares of Live Nation Entertainment from a “buy” rating to a “hold” rating and upped their price target for the company from $55.00 to $57.00 in a report on Tuesday, October 27th. Finally, Morgan Stanley upped their price target on shares of Live Nation Entertainment from $56.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 17th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.38.
Hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its stake in shares of Live Nation Entertainment by 37.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,253 shares of the company’s stock worth $380,000 after acquiring an additional 1,425 shares in the last quarter. IFM Investors Pty Ltd boosted its stake in shares of Live Nation Entertainment by 22.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 13,222 shares of the company’s stock worth $712,000 after acquiring an additional 2,386 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its stake in Live Nation Entertainment by 869.2% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 72,353 shares of the company’s stock valued at $5,317,000 after buying an additional 64,888 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Live Nation Entertainment by 18.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 7,200 shares of the company’s stock valued at $388,000 after buying an additional 1,100 shares in the last quarter. Finally, IBM Retirement Fund purchased a new position in Live Nation Entertainment in the 3rd quarter valued at about $248,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.
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; and produces music festivals and creates associated content.
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