Live Nation Entertainment (NYSE:LYV) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Live Nation Entertainment (NYSE:LYV) posted its earnings results on Monday. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08, Briefing.com reports. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter last year, the firm earned $1.78 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis.

Live Nation Entertainment Price Performance

Shares of LYV opened at $126.98 on Thursday. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $130.76. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. The firm has a fifty day moving average price of $111.36 and a 200 day moving average price of $100.15. The stock has a market cap of $29.25 billion, a PE ratio of 135.09, a price-to-earnings-growth ratio of 3.15 and a beta of 1.33.

Wall Street Analyst Weigh In

LYV has been the subject of several research reports. Bank of America started coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price for the company. Macquarie raised their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Rosenblatt Securities reissued a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Benchmark raised their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $135.71.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ping Fu sold 1,701 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total transaction of $164,248.56. Following the transaction, the director now owns 15,128 shares in the company, valued at $1,460,759.68. 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 a total of 177,000 shares of company stock worth $17,238,181 over the last ninety days. 2.72% of the stock is currently owned by company insiders.

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.