Wall Street brokerages predict that Live Nation Entertainment, Inc. (NYSE:LYV) will announce sales of $2.35 billion for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Live Nation Entertainment’s earnings, with estimates ranging from $2.31 billion to $2.44 billion. Live Nation Entertainment reported sales of $2.18 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.8%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, August 9th.

According to Zacks, analysts expect that Live Nation Entertainment will report full year sales of $2.35 billion for the current fiscal year, with estimates ranging from $8.95 billion to $9.29 billion. For the next fiscal year, analysts expect that the company will post sales of $9.69 billion per share, with estimates ranging from $9.53 billion to $10.12 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Live Nation Entertainment.

LYV has been the topic of several research reports. Zacks Investment Research lowered Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 11th. Macquarie reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Live Nation Entertainment in a research report on Sunday, May 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $36.00 target price on shares of Live Nation Entertainment in a research report on Monday, June 5th. ValuEngine raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Guggenheim initiated coverage on Live Nation Entertainment in a research report on Wednesday, May 24th. They issued a “buy” rating and a $40.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Live Nation Entertainment currently has an average rating of “Buy” and a consensus target price of $37.38.

Shares of Live Nation Entertainment (NYSE:LYV) opened at 37.89 on Tuesday. The stock has a 50 day moving average price of $35.59 and a 200-day moving average price of $32.06. Live Nation Entertainment has a 52 week low of $25.56 and a 52 week high of $37.91. The firm’s market capitalization is $7.75 billion.

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In related news, Director Robert Ted Enloe III sold 6,337 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 23,450 shares in the company, valued at approximately $839,979. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 286,216 shares of the company’s stock, valued at $9,977,489.76. The disclosure for this sale can be found here. 4.77% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in LYV. Teacher Retirement System of Texas increased its stake in shares of Live Nation Entertainment by 0.5% in the second quarter. Teacher Retirement System of Texas now owns 10,667 shares of the company’s stock valued at $372,000 after buying an additional 52 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Live Nation Entertainment by 2.0% in the second quarter. Capstone Asset Management Co. now owns 12,828 shares of the company’s stock valued at $447,000 after buying an additional 250 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Live Nation Entertainment by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 14,699 shares of the company’s stock valued at $446,000 after buying an additional 346 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Live Nation Entertainment by 0.8% in the first quarter. State Treasurer State of Michigan now owns 53,700 shares of the company’s stock valued at $1,631,000 after buying an additional 400 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its stake in shares of Live Nation Entertainment by 1.9% in the second quarter. State of Wisconsin Investment Board now owns 26,701 shares of the company’s stock valued at $931,000 after buying an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.

Live Nation Entertainment Company Profile

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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Earnings History and Estimates for Live Nation Entertainment (NYSE:LYV)

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