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

Live Nation Entertainment (NYSE:LYV) issued its quarterly earnings results on Tuesday. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03), Briefing.com reports. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the firm earned $1.02 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis.

Live Nation Entertainment Stock Performance

NYSE:LYV traded down $0.85 during mid-day trading on Tuesday, reaching $94.62. The company’s stock had a trading volume of 3,025,594 shares, compared to its average volume of 2,207,178. Live Nation Entertainment has a 12-month low of $76.48 and a 12-month high of $107.24. The firm’s fifty day moving average price is $93.82 and its two-hundred day moving average price is $94.93. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. The stock has a market cap of $21.74 billion, a P/E ratio of 90.05, a PEG ratio of 2.09 and a beta of 1.34.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LYV. JPMorgan Chase & Co. lowered their target price on Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Rosenblatt Securities boosted their price target on Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, May 6th. Redburn Atlantic upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the company from $114.00 to $115.00 in a report on Thursday, May 9th. Finally, Oppenheimer restated an “outperform” rating and set a $110.00 price target on shares of Live Nation Entertainment in a report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.58.

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.