Equities research analysts expect Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) to announce $1.92 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Live Nation Entertainment’s earnings, with the highest sales estimate coming in at $2.44 billion and the lowest estimate coming in at $1.53 billion. Live Nation Entertainment posted sales of $290.61 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 560.7%. The company is scheduled to report its next earnings report after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Live Nation Entertainment will report full year sales of $14.10 billion for the current financial year, with estimates ranging from $13.58 billion to $14.65 billion. For the next fiscal year, analysts expect that the company will report sales of $15.68 billion, with estimates ranging from $15.00 billion to $16.19 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Live Nation Entertainment.
Live Nation Entertainment (NYSE:LYV – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.55. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company posted ($1.44) EPS. Live Nation Entertainment’s revenue for the quarter was up 520.4% on a year-over-year basis.
In other news, EVP Michael Rowles sold 46,673 shares of the stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $124.60, for a total transaction of $5,815,455.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Rapino sold 78,000 shares of the stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $112.07, for a total transaction of $8,741,460.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,098,771 shares of company stock valued at $123,832,278 over the last three months. Insiders own 5.48% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in 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 buying an additional 146 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $27,000. Kistler Tiffany Companies LLC lifted its stake in 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. Moors & Cabot Inc. purchased a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $31,000. Finally, CVA Family Office LLC purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $32,000. 73.10% of the stock is owned by institutional investors.
LYV opened at $95.13 on Friday. Live Nation Entertainment has a fifty-two week low of $74.01 and a fifty-two week high of $127.75. The firm has a market capitalization of $21.64 billion, a PE ratio of -30.59 and a beta of 1.29. The company’s 50-day moving average is $111.09 and its 200 day moving average is $111.46.
Live Nation Entertainment Company Profile (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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