$0.58 EPS Expected for Live Nation Entertainment, Inc. (LYV) This Quarter
Brokerages expect that Live Nation Entertainment, Inc. (NYSE:LYV) will report earnings per share (EPS) of $0.58 for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Live Nation Entertainment’s earnings, with the lowest EPS estimate coming in at $0.51 and the highest estimate coming in at $0.68. Live Nation Entertainment reported earnings per share of $0.49 in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.4%. The business is expected to report its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that Live Nation Entertainment will report full year earnings of $0.20 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.41. For the next year, analysts anticipate that the business will post earnings of $0.52 per share, with EPS estimates ranging from $0.28 to $0.91. Zacks Investment Research’s EPS 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) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the prior year, the company earned $0.13 EPS. The firm’s revenue was up 29.3% on a year-over-year basis.
Several equities research analysts have recently issued reports on LYV shares. Jefferies Group LLC lifted their price objective on shares of Live Nation Entertainment from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, June 27th. BidaskClub lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. William Blair began coverage on shares of Live Nation Entertainment in a report on Friday, July 21st. They issued an “outperform” rating for the company. Zacks Investment Research raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, October 10th. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.86.
In related news, insider Brian Capo sold 7,500 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the transaction, the insider now directly owns 13,354 shares of the company’s stock, valued at $540,837. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ariel Emanuel sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $41.56, for a total transaction of $415,600.00. Following the completion of the transaction, the director now directly owns 85,737 shares of the company’s stock, valued at $3,563,229.72. The disclosure for this sale can be found here. Company insiders own 4.77% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Chicago Equity Partners LLC purchased a new position in Live Nation Entertainment during the second quarter worth $3,674,000. Schwab Charles Investment Management Inc. boosted its stake in Live Nation Entertainment by 24.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,457,085 shares of the company’s stock worth $50,780,000 after buying an additional 287,319 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Live Nation Entertainment by 82.4% during the second quarter. BNP Paribas Arbitrage SA now owns 53,630 shares of the company’s stock worth $1,869,000 after buying an additional 24,226 shares during the period. Vanguard Group Inc. boosted its stake in Live Nation Entertainment by 5.2% during the first quarter. Vanguard Group Inc. now owns 10,414,998 shares of the company’s stock worth $316,303,000 after buying an additional 517,577 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Live Nation Entertainment by 23.5% during the second quarter. Russell Investments Group Ltd. now owns 105,071 shares of the company’s stock worth $3,662,000 after buying an additional 20,007 shares during the period. 65.65% of the stock is owned by institutional investors.
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Shares of Live Nation Entertainment (LYV) traded up 1.17% during midday trading on Thursday, hitting $43.10. 2,380,685 shares of the stock were exchanged. The company has a market capitalization of $8.84 billion, a P/E ratio of 6157.14 and a beta of 1.03. Live Nation Entertainment has a 1-year low of $26.41 and a 1-year high of $43.85. The firm has a 50-day moving average of $42.05 and a 200-day moving average of $36.76.
About Live Nation Entertainment
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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