Live Nation Entertainment (NYSE:LYV) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Live Nation Entertainment (NYSE:LYV) announced its earnings results on Tuesday. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03), Briefing.com reports. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 81.82%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.02 EPS.

Live Nation Entertainment Price Performance

LYV traded down $2.65 during trading on Friday, reaching $90.33. The stock had a trading volume of 1,268,878 shares, compared to its average volume of 2,211,474. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $20.97 billion, a PE ratio of 88.55, a PEG ratio of 2.14 and a beta of 1.34. The business has a 50-day moving average of $93.56 and a 200-day moving average of $94.95. Live Nation Entertainment has a one year low of $76.48 and a one year high of $107.24.

Analysts Set New Price Targets

LYV has been the subject of several research reports. Benchmark restated a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research report on Wednesday. Roth Mkm restated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Friday, May 24th. Oppenheimer restated an “outperform” rating and set a $110.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. JPMorgan Chase & Co. increased their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Macquarie reiterated an “outperform” rating and set a $125.00 target price on shares of Live Nation Entertainment in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.17.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. 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. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.