Live Nation Entertainment (NYSE:LYV) Posts Earnings Results, Beats Estimates By $0.08 EPS

Live Nation Entertainment (NYSE:LYV) issued its quarterly earnings results on Monday. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08, Briefing.com reports. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 earnings per share.

Live Nation Entertainment Trading Down 2.1 %

Shares of Live Nation Entertainment stock opened at $126.98 on Thursday. The firm has a market capitalization of $29.25 billion, a PE ratio of 135.09, a P/E/G ratio of 3.15 and a beta of 1.33. Live Nation Entertainment has a twelve month low of $81.38 and a twelve month high of $130.76. The firm’s 50-day moving average price is $111.36 and its 200 day moving average price is $100.15. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now directly owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LYV shares. Roth Mkm upped their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Macquarie upped their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Oppenheimer upped their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday. The Goldman Sachs Group upped their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Benchmark upped their target price on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $135.71.

Live Nation Entertainment Company Profile

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.