Live Nation Entertainment (NYSE:LYV) Announces Earnings Results, Misses Expectations By $0.32 EPS

Live Nation Entertainment (NYSE:LYV) posted its earnings results on Thursday. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32), Briefing.com reports. Live Nation Entertainment had a net margin of 2.22% and a return on equity of 85.50%. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company posted ($0.25) EPS. The firm’s revenue was up 21.5% compared to the same quarter last year.

Live Nation Entertainment Price Performance

LYV traded up $6.39 during trading on Friday, reaching $94.66. 5,775,969 shares of the company traded hands, compared to its average volume of 2,400,003. The company has a market cap of $21.85 billion, a P/E ratio of 90.15, a PEG ratio of 1.79 and a beta of 1.34. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. Live Nation Entertainment has a 12-month low of $66.38 and a 12-month high of $107.24. The firm has a fifty day simple moving average of $98.60 and a 200 day simple moving average of $91.67.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LYV shares. Oppenheimer raised their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Roth Mkm reiterated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Morgan Stanley upped their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. TD Cowen reiterated a “buy” rating and set a $108.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Live Nation Entertainment in a research report on Tuesday. They issued a “buy” rating and a $120.00 price target for the company. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.91.

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.