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

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

Live Nation Entertainment Stock Performance

LYV stock traded down $2.69 during trading hours on Wednesday, hitting $126.98. 4,469,044 shares of the stock were exchanged, compared to its average volume of 2,170,617. The firm has a market capitalization of $29.25 billion, a P/E ratio of 135.15, a P/E/G ratio of 3.15 and a beta of 1.33. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.76. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The company has a 50-day simple moving average of $110.72 and a two-hundred day simple moving average of $99.96.

Insider Transactions at Live Nation Entertainment

In other news, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the sale, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on LYV. Evercore ISI upped their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Benchmark upped their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bank of America initiated coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $135.71.

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.