Live Nation Entertainment, Inc. to Post Q1 2018 Earnings of ($0.23) Per Share, Jefferies Group Forecasts (LYV)
Live Nation Entertainment, Inc. (NYSE:LYV) – Stock analysts at Jefferies Group lowered their Q1 2018 earnings per share (EPS) estimates for Live Nation Entertainment in a report released on Wednesday. Jefferies Group analyst J. Janedis now expects that the company will earn ($0.23) per share for the quarter, down from their previous estimate of ($0.22). Jefferies Group has a “Buy” rating and a $40.00 price objective on the stock. Jefferies Group also issued estimates for Live Nation Entertainment’s Q2 2018 earnings at $0.34 EPS, FY2018 earnings at $0.42 EPS, Q1 2019 earnings at ($0.18) EPS, Q2 2019 earnings at $0.39 EPS and FY2019 earnings at $0.64 EPS.
Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.37 billion. Live Nation Entertainment had a return on equity of 1.60% and a net margin of 0.25%. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 earnings per share.
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Several other equities analysts have also issued reports on LYV. Stephens reiterated an “overweight” rating and set a $44.00 target price (up from $36.00) on shares of Live Nation Entertainment in a report on Thursday. J P Morgan Chase & Co reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Friday. Zacks Investment Research lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday. William Blair assumed coverage on shares of Live Nation Entertainment in a report on Friday, July 21st. They set an “outperform” rating for the company. Finally, Guggenheim assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, May 24th. They set a “buy” rating and a $40.00 target price for the company. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Live Nation Entertainment has an average rating of “Buy” and an average target price of $38.75.
Shares of Live Nation Entertainment (NYSE LYV) opened at 38.34 on Monday. Live Nation Entertainment has a 52 week low of $25.56 and a 52 week high of $42.20. The stock has a market capitalization of $7.86 billion, a P/E ratio of 5477.14 and a beta of 1.00. The stock has a 50 day moving average price of $36.13 and a 200 day moving average price of $32.55.
Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Live Nation Entertainment by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock worth $185,000 after buying an additional 445 shares in the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in shares of Live Nation Entertainment during the second quarter worth $210,000. PICTET BANK & TRUST Ltd bought a new stake in shares of Live Nation Entertainment during the first quarter worth $225,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Live Nation Entertainment during the first quarter worth $233,000. Finally, KBC Group NV bought a new stake in shares of Live Nation Entertainment during the first quarter worth $238,000. Institutional investors and hedge funds own 65.62% of the company’s stock.
In related news, Director Robert Ted Enloe III sold 6,337 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $35.82, for a total value of $226,991.34. Following the completion of the transaction, the director now directly owns 23,450 shares in the company, valued at approximately $839,979. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $34.86, for a total transaction of $697,200.00. Following the completion of the transaction, 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 owned by insiders.
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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