$0.88 EPS Expected for Live Nation Entertainment, Inc. (NYSE:LYV) This Quarter

Equities analysts predict that Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) will announce earnings per share (EPS) of $0.88 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Live Nation Entertainment’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $1.69. Live Nation Entertainment reported earnings per share of ($0.90) in the same quarter last year, which would indicate a positive year over year growth rate of 197.8%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Live Nation Entertainment will report full-year earnings of $0.40 per share for the current year, with EPS estimates ranging from ($0.56) to $1.51. For the next fiscal year, analysts anticipate that the company will report earnings of $1.20 per share, with EPS estimates ranging from $0.50 to $2.58. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.55. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company earned ($1.44) EPS. Live Nation Entertainment’s revenue was up 520.4% compared to the same quarter last year.

LYV has been the subject of a number of analyst reports. Zacks Investment Research upgraded Live Nation Entertainment from a “hold” rating to a “strong-buy” rating and set a $144.00 price target for the company in a research report on Friday, February 25th. The Goldman Sachs Group upped their price target on Live Nation Entertainment from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, March 1st. Benchmark initiated coverage on Live Nation Entertainment in a research report on Monday, April 25th. They issued a “buy” rating and a $135.00 price target for the company. Morgan Stanley upped their price target on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, February 25th. Finally, StockNews.com started coverage on Live Nation Entertainment in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $124.40.

In other news, EVP Michael Rowles sold 46,673 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Rapino sold 78,000 shares of the stock in a transaction on Friday, May 6th. The shares were sold at an average price of $93.08, for a total value of $7,260,240.00. Following the completion of the sale, the chief executive officer now owns 3,336,520 shares in the company, valued at $310,563,281.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,254,771 shares of company stock valued at $138,629,658. Company insiders own 5.48% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its stake in shares of Live Nation Entertainment by 224.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 211 shares of the company’s stock valued at $25,000 after acquiring an additional 146 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $27,000. Kistler Tiffany Companies LLC raised its stake in Live Nation Entertainment by 68.5% in the third quarter. Kistler Tiffany Companies LLC now owns 337 shares of the company’s stock valued at $31,000 after buying an additional 137 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in Live Nation Entertainment in the third quarter valued at $31,000. Finally, CVA Family Office LLC acquired a new stake in Live Nation Entertainment in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

Shares of Live Nation Entertainment stock opened at $92.51 on Wednesday. The business has a 50 day simple moving average of $110.52 and a two-hundred day simple moving average of $111.39. Live Nation Entertainment has a 12 month low of $74.01 and a 12 month high of $127.75. The stock has a market capitalization of $21.04 billion, a P/E ratio of -29.75 and a beta of 1.29.

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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