Live Nation Entertainment, Inc. (NYSE:LYV) – Stock analysts at Northcoast Research issued their Q2 2019 earnings estimates for Live Nation Entertainment in a research note issued on Monday, February 11th. Northcoast Research analyst J. Healy expects that the company will post earnings per share of $0.37 for the quarter. Northcoast Research also issued estimates for Live Nation Entertainment’s Q3 2019 earnings at $0.86 EPS, Q4 2019 earnings at ($0.66) EPS and FY2020 earnings at $0.52 EPS.
A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, November 2nd. Macquarie reaffirmed a “buy” rating and set a $60.00 price objective on shares of Live Nation Entertainment in a report on Thursday, November 22nd. Finally, Zacks Investment Research downgraded Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $57.61.
Shares of LYV opened at $54.02 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.76. Live Nation Entertainment has a 1 year low of $35.94 and a 1 year high of $58.26. The company has a market cap of $11.36 billion, a price-to-earnings ratio of -112.54 and a beta of 1.14.
In related news, CEO Michael Rapino sold 85,000 shares of the firm’s stock in a transaction on Friday, December 21st. The stock was sold at an average price of $49.40, for a total value of $4,199,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,052,030 shares in the company, valued at $51,970,282. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 255,000 shares of company stock valued at $12,736,400. 5.19% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of LYV. Exane Derivatives bought a new stake in Live Nation Entertainment in the fourth quarter worth $32,000. Hanseatic Management Services Inc. lifted its position in Live Nation Entertainment by 52.0% in the fourth quarter. Hanseatic Management Services Inc. now owns 1,201 shares of the company’s stock worth $59,000 after buying an additional 411 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Live Nation Entertainment by 6,602.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,565,158 shares of the company’s stock worth $72,000 after buying an additional 3,511,969 shares during the last quarter. Quantamental Technologies LLC bought a new stake in Live Nation Entertainment in the fourth quarter worth $77,000. Finally, Whittier Trust Co. lifted its position in Live Nation Entertainment by 1,535.4% in the fourth quarter. Whittier Trust Co. now owns 1,570 shares of the company’s stock worth $77,000 after buying an additional 1,474 shares during the last quarter. Institutional investors own 70.46% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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