$0.16 EPS Expected for Live Nation Entertainment, Inc. (LYV) This Quarter
Equities analysts expect that Live Nation Entertainment, Inc. (NYSE:LYV) will report $0.16 earnings per share for the current quarter, Zacks reports. Nine analysts have made estimates for Live Nation Entertainment’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.09. Live Nation Entertainment posted earnings per share of $0.13 during the same quarter last year, which would suggest a positive year over year growth rate of 23.1%. The business is scheduled to report its next earnings results on Thursday, July 27th.
On average, analysts expect that Live Nation Entertainment will report full year earnings of $0.13 per share for the current fiscal year, with EPS estimates ranging from $0.04 to $0.23. For the next year, analysts anticipate that the company will report earnings of $0.38 per share, with EPS estimates ranging from $0.08 to $0.66. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Live Nation Entertainment.
Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, May 4th. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.11. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Live Nation Entertainment had a negative return on equity of 0.16% and a negative net margin of 0.03%. The company’s revenue was up 17.0% compared to the same quarter last year.
Several research analysts have issued reports on LYV shares. Zacks Investment Research lowered Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 11th. Macquarie reiterated an “outperform” rating and issued a $38.00 price target on shares of Live Nation Entertainment in a report on Sunday, May 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $36.00 price target on shares of Live Nation Entertainment in a report on Monday, June 5th. ValuEngine upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Guggenheim started coverage on Live Nation Entertainment in a report on Wednesday, May 24th. They issued a “buy” rating and a $40.00 price target on the stock. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $37.00.
Shares of Live Nation Entertainment (NYSE LYV) opened at 35.48 on Monday. The firm has a 50-day moving average price of $34.77 and a 200 day moving average price of $30.65. Live Nation Entertainment has a 1-year low of $24.24 and a 1-year high of $36.44. The company’s market cap is $7.25 billion.
In other news, Director Robert Ted Enloe III sold 6,337 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $35.82, for a total value of $226,991.34. Following the transaction, the director now owns 23,450 shares in the company, valued at $839,979. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $34.86, for a total value of $697,200.00. Following the completion of the transaction, the chief financial officer now owns 286,216 shares in the company, valued at approximately $9,977,489.76. The disclosure for this sale can be found here. Insiders sold 36,337 shares of company stock worth $1,264,291 in the last 90 days. Corporate insiders own 4.77% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of LYV. Highbridge Capital Management LLC raised its position in Live Nation Entertainment by 198.9% in the fourth quarter. Highbridge Capital Management LLC now owns 10,582 shares of the company’s stock worth $282,000 after buying an additional 21,282 shares in the last quarter. Credit Agricole S A bought a new position in Live Nation Entertainment during the fourth quarter worth $115,000. Karp Capital Management Corp bought a new position in Live Nation Entertainment during the first quarter worth $686,000. World Asset Management Inc raised its position in Live Nation Entertainment by 9.7% in the first quarter. World Asset Management Inc now owns 8,844 shares of the company’s stock worth $269,000 after buying an additional 783 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its position in Live Nation Entertainment by 175.6% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 590,730 shares of the company’s stock worth $17,938,000 after buying an additional 376,400 shares in the last quarter. Institutional investors own 63.52% of the company’s stock.
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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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