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

Live Nation Entertainment (NYSE:LYV) issued its earnings results on Monday. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08, Briefing.com reports. The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.78 earnings per share.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $123.85 on Tuesday. The stock has a market cap of $28.53 billion, a P/E ratio of 116.84, a P/E/G ratio of 3.03 and a beta of 1.33. The company has a fifty day moving average price of $110.04 and a two-hundred day moving average price of $99.68. Live Nation Entertainment has a one year low of $81.38 and a one year high of $127.64. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92.

Insider Activity

In related news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Brian Capo sold 5,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ping Fu sold 1,701 shares of Live Nation Entertainment 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 sale, the director now directly owns 15,128 shares of the company’s stock, valued at $1,460,759.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

LYV has been the subject of a number of recent analyst reports. Macquarie upped their price objective 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. Oppenheimer boosted their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Bank of America began coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target on the stock. Roth Mkm boosted their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.73.

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.