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

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

Live Nation Entertainment Stock Performance

Shares of LYV traded up $6.39 during trading hours 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 debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s fifty day moving average is $98.60 and its 200 day moving average is $91.67. Live Nation Entertainment has a 1-year low of $66.38 and a 1-year high of $107.24. The stock has a market cap of $21.85 billion, a P/E ratio of 90.15, a price-to-earnings-growth ratio of 1.79 and a beta of 1.34.

Analysts Set New Price Targets

Several research firms have commented on LYV. Morgan Stanley increased their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Oppenheimer raised their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. TD Cowen reiterated a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Live Nation Entertainment in a research note on Tuesday. They issued a “buy” rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.91.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the sale, the director now directly owns 59,374 shares in the company, valued at $5,967,087. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.85% of the stock is owned by company insiders.

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.