Q3 2017 EPS Estimates for Live Nation Entertainment, Inc. Lowered by Analyst (LYV)
Live Nation Entertainment, Inc. (NYSE:LYV) – Research analysts at Jefferies Group lowered their Q3 2017 earnings per share (EPS) estimates for Live Nation Entertainment in a note issued to investors on Wednesday. Jefferies Group analyst J. Janedis now anticipates that the company will post earnings of $0.57 per share for the quarter, down from their previous forecast of $0.59. Jefferies Group currently has a “Buy” rating and a $42.00 target price on the stock. Jefferies Group also issued estimates for Live Nation Entertainment’s FY2017 earnings at $0.25 EPS, Q3 2018 earnings at $0.65 EPS, FY2018 earnings at $0.40 EPS, Q3 2019 earnings at $0.71 EPS and FY2019 earnings at $0.62 EPS.
Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.37 billion. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.60%. Live Nation Entertainment’s revenue was up 29.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share.
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Several other analysts also recently commented on the stock. BidaskClub downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Stephens reissued an “overweight” rating and issued a $44.00 target price (up from $36.00) on shares of Live Nation Entertainment in a research report on Thursday, August 10th. 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 research report on Tuesday. J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Friday, August 11th. Finally, William Blair assumed coverage on shares of Live Nation Entertainment in a research report on Friday, July 21st. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $40.86.
Several institutional investors have recently modified their holdings of LYV. Karp Capital Management Corp acquired a new stake in shares of Live Nation Entertainment in the first quarter worth $686,000. Ameriprise Financial Inc. lifted its stake in shares of Live Nation Entertainment by 3.4% in the first quarter. Ameriprise Financial Inc. now owns 354,090 shares of the company’s stock worth $10,754,000 after buying an additional 11,704 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Live Nation Entertainment by 18.4% in the first quarter. Parametric Portfolio Associates LLC now owns 101,875 shares of the company’s stock worth $3,094,000 after buying an additional 15,813 shares during the last quarter. KBC Group NV acquired a new stake in shares of Live Nation Entertainment in the first quarter worth $238,000. Finally, Prudential Financial Inc. lifted its stake in shares of Live Nation Entertainment by 6.5% in the first quarter. Prudential Financial Inc. now owns 96,339 shares of the company’s stock worth $2,926,000 after buying an additional 5,860 shares during the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.
In other news, Director Ariel Emanuel sold 10,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $41.56, for a total value of $415,600.00. Following the completion of the sale, the director now directly owns 85,737 shares in the company, valued at $3,563,229.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Capo sold 7,500 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $40.50, for a total transaction of $303,750.00. Following the completion of the sale, the insider now owns 13,354 shares of the company’s stock, valued at $540,837. The disclosure for this sale can be found here. Insiders own 4.77% of the company’s stock.
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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