Live Nation Entertainment (NYSE:LYV) Issues Earnings Results

Live Nation Entertainment (NYSE:LYV) announced its quarterly earnings results on Monday. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08, Briefing.com reports. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $123.85 on Tuesday. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $127.64. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a market cap of $28.53 billion, a P/E ratio of 116.84, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33. The business’s 50 day moving average is $110.04 and its 200-day moving average is $99.68.

Insider Activity

In other news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the sale, the director now directly owns 15,128 shares in the company, valued at $1,460,759.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of research reports. Oppenheimer increased their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and set a $132.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Macquarie lifted their price objective on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Bank of America began coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price on the stock. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.73.

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.