Live Nation Entertainment, Inc. (NYSE:LYV) Expected to Announce Earnings of -$0.94 Per Share

Equities research analysts predict that Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) will report earnings of ($0.94) per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Live Nation Entertainment’s earnings, with the highest EPS estimate coming in at ($0.74) and the lowest estimate coming in at ($1.24). Live Nation Entertainment reported earnings of ($1.44) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 34.7%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Live Nation Entertainment will report full-year earnings of $0.33 per share for the current year, with EPS estimates ranging from ($0.56) to $1.51. For the next financial year, analysts expect that the business will report earnings of $1.16 per share, with EPS estimates ranging from $0.31 to $2.58. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYVGet Rating) last issued its quarterly earnings results on Wednesday, February 23rd. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.41). The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $1.93 billion.

Several brokerages have issued reports on LYV. TheStreet lowered Live Nation Entertainment from a “c” rating to a “d+” rating in a research note on Thursday, March 17th. The Goldman Sachs Group lifted their price objective on Live Nation Entertainment from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, March 1st. Morgan Stanley lifted their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, February 25th. William Blair reiterated an “outperform” rating on shares of Live Nation Entertainment in a report on Friday, April 8th. Finally, StockNews.com assumed coverage on Live Nation Entertainment in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $121.38.

In other Live Nation Entertainment news, CEO Michael Rapino sold 78,000 shares of the company’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $108.75, for a total transaction of $8,482,500.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Rowles sold 46,673 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $124.60, for a total value of $5,815,455.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 708,771 shares of company stock worth $81,302,778. 5.00% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its position in shares of Live Nation Entertainment by 224.6% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 211 shares of the company’s stock worth $25,000 after purchasing an additional 146 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $27,000. CVA Family Office LLC bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $32,000. Kistler Tiffany Companies LLC boosted its position in shares of Live Nation Entertainment by 68.5% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 337 shares of the company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Finally, Pinnacle Holdings LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 75.47% of the company’s stock.

Shares of LYV stock opened at $112.96 on Thursday. The business has a 50-day moving average price of $114.49 and a two-hundred day moving average price of $110.54. Live Nation Entertainment has a 12-month low of $74.01 and a 12-month high of $127.75. The firm has a market cap of $25.37 billion, a P/E ratio of -36.32 and a beta of 1.28.

About Live Nation Entertainment (Get Rating)

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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