Northcoast Research Analysts Boost Earnings Estimates for Live Nation Entertainment, Inc. (LYV)
Live Nation Entertainment, Inc. (NYSE:LYV) – Equities researchers at Northcoast Research upped their Q3 2017 earnings per share (EPS) estimates for shares of Live Nation Entertainment in a research report issued to clients and investors on Wednesday. Northcoast Research analyst J. Healy now forecasts that the company will post earnings of $0.54 per share for the quarter, up from their previous forecast of $0.52.
Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a return on equity of 1.60% and a net margin of 0.25%. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the firm posted $0.13 earnings per share. The business’s revenue was up 29.3% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This story was posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/20/northcoast-research-analysts-boost-earnings-estimates-for-live-nation-entertainment-inc-lyv.html.
Several other research firms have also issued reports on LYV. Zacks Investment Research raised Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, October 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $42.00 target price on shares of Live Nation Entertainment in a report on Monday. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $44.00 target price (up from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. Finally, William Blair assumed coverage on Live Nation Entertainment in a report on Friday, July 21st. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $40.86.
Shares of Live Nation Entertainment (NYSE LYV) opened at 43.10 on Friday. The stock has a 50 day moving average price of $42.15 and a 200-day moving average price of $36.81. The firm has a market capitalization of $8.84 billion, a PE ratio of 6157.14 and a beta of 1.03. Live Nation Entertainment has a 52-week low of $26.41 and a 52-week high of $43.85.
In other Live Nation Entertainment news, insider Brian Capo sold 7,500 shares of the 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 transaction, the insider now directly owns 13,354 shares of the company’s stock, valued at $540,837. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ariel Emanuel sold 10,000 shares of the 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 transaction, the director now directly owns 85,737 shares of the company’s stock, valued at $3,563,229.72. The disclosure for this sale can be found here. Corporate insiders own 4.77% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas grew its holdings in Live Nation Entertainment by 0.5% during the second quarter. Teacher Retirement System of Texas now owns 10,667 shares of the company’s stock valued at $372,000 after purchasing an additional 52 shares during the period. Neuberger Berman Group LLC grew its holdings in Live Nation Entertainment by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 7,830 shares of the company’s stock valued at $273,000 after purchasing an additional 63 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Live Nation Entertainment by 0.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,493 shares of the company’s stock valued at $679,000 after purchasing an additional 177 shares during the period. Capstone Asset Management Co. grew its holdings in Live Nation Entertainment by 2.0% during the second quarter. Capstone Asset Management Co. now owns 12,828 shares of the company’s stock valued at $447,000 after purchasing an additional 250 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Live Nation Entertainment by 2.4% during the first quarter. PNC Financial Services Group Inc. now owns 14,699 shares of the company’s stock valued at $446,000 after purchasing an additional 346 shares during the period. 65.65% of the stock is owned by institutional investors and hedge funds.
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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