Live Nation Entertainment, Inc. (NYSE:LYV) – Equities researchers at William Blair lowered their FY2018 EPS estimates for Live Nation Entertainment in a report issued on Friday. William Blair analyst R. Sundby now anticipates that the company will post earnings per share of $0.48 for the year, down from their prior estimate of $0.54. William Blair has a “Outperform” rating on the stock.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Tuesday, October 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, September 12th. BidaskClub raised shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. J P Morgan Chase & Co reissued a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. Finally, Stephens reissued an “overweight” rating and issued a $44.00 target price (up previously from $36.00) on shares of Live Nation Entertainment in a report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Live Nation Entertainment currently has an average rating of “Buy” and a consensus target price of $42.86.
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Live Nation Entertainment (NYSE LYV) traded up $0.13 during mid-day trading on Monday, reaching $43.95. 1,151,848 shares of the company traded hands, compared to its average volume of 1,596,253. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $9,061.97, a price-to-earnings ratio of 2,191.00 and a beta of 1.07.
Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, November 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis.
In related news, insider Brian Capo sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $40.50, for a total value of $303,750.00. Following the completion of the transaction, the insider now owns 13,354 shares in the company, valued at approximately $540,837. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ariel Emanuel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $41.56, for a total transaction of $415,600.00. Following the completion of the transaction, the director now owns 85,737 shares of the company’s stock, valued at approximately $3,563,229.72. The disclosure for this sale can be found here. 4.77% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Live Nation Entertainment by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after buying an additional 445 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $210,000. Oppenheimer Asset Management Inc. bought a new position in Live Nation Entertainment in the 1st quarter valued at approximately $233,000. Montag A & Associates Inc. bought a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $261,000. Finally, Neuberger Berman Group LLC raised its holdings in Live Nation Entertainment by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 7,830 shares of the company’s stock valued at $273,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 68.39% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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