Q3 2016 Earnings Estimate for Live Nation Entertainment Inc. Issued By Northcoast Research (LYV)
Live Nation Entertainment Inc. (NYSE:LYV) – Equities researchers at Northcoast Research reduced their Q3 2016 EPS estimates for shares of Live Nation Entertainment in a research note issued on Monday. Northcoast Research analyst J. Healy now forecasts that the brokerage will earn $0.50 per share for the quarter, down from their prior forecast of $0.59.
Other equities analysts also recently issued research reports about the company. Citigroup Inc. increased their price target on Live Nation Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, October 12th. Jefferies Group reissued a “buy” rating and issued a $31.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 29th. Albert Fried & Company reissued a “buy” rating and issued a $34.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, July 26th. Stephens started coverage on Live Nation Entertainment in a research report on Thursday, October 6th. They issued an “equal weight” rating and a $30.00 price objective for the company. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. started coverage on Live Nation Entertainment in a research report on Thursday, August 18th. They issued an “overweight” rating and a $34.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Live Nation Entertainment has a consensus rating of “Buy” and an average price target of $31.38.
Live Nation Entertainment (NYSE:LYV) traded up 1.41% during trading on Tuesday, hitting $27.30. 496,775 shares of the stock traded hands. The stock’s market cap is $5.51 billion. Live Nation Entertainment has a one year low of $18.77 and a one year high of $29.68. The company has a 50-day moving average price of $27.01 and a 200 day moving average price of $24.70.
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Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, July 28th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. Live Nation Entertainment had a net margin of 0.05% and a return on equity of 0.27%. The firm earned $2.20 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of Live Nation Entertainment during the second quarter worth about $115,000. Creative Planning boosted its position in shares of Live Nation Entertainment by 6.1% in the third quarter. Creative Planning now owns 4,334 shares of the company’s stock worth $119,000 after buying an additional 249 shares during the last quarter. Seven Eight Capital LLC boosted its position in shares of Live Nation Entertainment by 30.8% in the first quarter. Seven Eight Capital LLC now owns 6,800 shares of the company’s stock worth $152,000 after buying an additional 1,600 shares during the last quarter. Neuberger Berman Group LLC bought a new position in shares of Live Nation Entertainment during the second quarter worth about $204,000. Finally, LS Investment Advisors LLC boosted its position in shares of Live Nation Entertainment by 66.0% in the second quarter. LS Investment Advisors LLC now owns 8,984 shares of the company’s stock worth $211,000 after buying an additional 3,571 shares during the last quarter. 64.01% of the stock is owned by hedge funds and other institutional investors.
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, and artist management. Its segments include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate.
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