Live Nation Entertainment (NYSE:LYV) Announces Earnings Results, Beats Estimates By $0.08 EPS

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

Live Nation Entertainment Stock Performance

NYSE LYV opened at $123.85 on Tuesday. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment has a fifty-two week low of $81.38 and a fifty-two week high of $127.64. The stock has a market cap of $28.53 billion, a PE ratio of 116.84, a PEG ratio of 3.03 and a beta of 1.33. The firm’s fifty day moving average price is $110.04 and its two-hundred day moving average price is $99.68.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LYV shares. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. 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 price target on the stock. Benchmark reaffirmed a “buy” rating and set a $132.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Finally, Oppenheimer raised their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.73.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the sale, the director now directly owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 in the last 90 days. Insiders own 2.72% of the company’s stock.

About Live Nation Entertainment

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.