Live Nation Entertainment, Inc. (LYV) Expected to Post Quarterly Sales of $2.06 Billion

Analysts expect Live Nation Entertainment, Inc. (NYSE:LYV) to report $2.06 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Live Nation Entertainment’s earnings. The lowest sales estimate is $1.90 billion and the highest is $2.27 billion. Live Nation Entertainment posted sales of $1.80 billion during the same quarter last year, which would suggest a positive year over year growth rate of 14.4%. The business is expected to report its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Live Nation Entertainment will report full year sales of $2.06 billion for the current year, with estimates ranging from $9.69 billion to $10.06 billion. For the next financial year, analysts anticipate that the firm will report sales of $10.69 billion per share, with estimates ranging from $10.29 billion to $11.32 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period in the previous year, the firm earned $0.49 EPS. The company’s revenue was up 12.3% on a year-over-year basis.

A number of equities research analysts have recently issued reports on LYV shares. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Citigroup downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Friday, December 22nd. JPMorgan Chase & Co. reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 18th. Jefferies Group reissued a “buy” rating and set a $42.00 price objective on shares of Live Nation Entertainment in a research report on Monday, October 16th. Finally, Macquarie reissued a “buy” rating and set a $48.00 price objective on shares of Live Nation Entertainment in a research report on Sunday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Live Nation Entertainment currently has an average rating of “Buy” and an average price target of $44.57.

Shares of Live Nation Entertainment (NYSE:LYV) opened at $44.73 on Monday. Live Nation Entertainment has a 1 year low of $28.00 and a 1 year high of $46.99. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $9,250.16, a price-to-earnings ratio of 2,237.62 and a beta of 1.01.

In related news, CEO Michael Rapino sold 70,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $42.87, for a total value of $3,000,900.00. Following the completion of the transaction, the chief executive officer now owns 115,277 shares of the company’s stock, valued at approximately $4,941,924.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joe Berchtold sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $45.50, for a total transaction of $910,000.00. Following the completion of the transaction, the chief operating officer now directly owns 97,918 shares of the company’s stock, valued at approximately $4,455,269. The disclosure for this sale can be found here. Insiders sold a total of 1,060,000 shares of company stock valued at $47,451,500 in the last ninety days. 4.77% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc boosted its holdings in Live Nation Entertainment by 85.4% in the 4th quarter. IFP Advisors Inc now owns 3,088 shares of the company’s stock worth $131,000 after buying an additional 1,422 shares during the period. Assetmark Inc. purchased a new stake in Live Nation Entertainment in the 3rd quarter worth $134,000. US Bancorp DE lifted its stake in Live Nation Entertainment by 379.4% in the 4th quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $165,000 after purchasing an additional 3,062 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in Live Nation Entertainment in the 3rd quarter worth $167,000. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in Live Nation Entertainment in the 3rd quarter worth $209,000. 68.27% of the stock is owned by institutional investors.

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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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