Live Nation Entertainment (NYSE:LYV) Issues Quarterly Earnings Results

Live Nation Entertainment (NYSE:LYV) issued its earnings results on Thursday. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49, Zacks reports. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion.

Live Nation Entertainment Stock Up 2.2 %

NYSE LYV traded up $3.35 during trading on Friday, hitting $155.67. The company’s stock had a trading volume of 1,198,829 shares, compared to its average volume of 1,875,188. Live Nation Entertainment has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The company has a market cap of $36.17 billion, a PE ratio of 165.65, a P/E/G ratio of 1.83 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50 day simple moving average is $138.96 and its 200-day simple moving average is $121.87.

Analyst Upgrades and Downgrades

LYV has been the topic of several research analyst reports. Roth Mkm increased their price objective on Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Guggenheim increased their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday. Bank of America increased their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Evercore ISI boosted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $152.80.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.