Live Nation Entertainment (NYSE:LYV) Announces Quarterly Earnings Results

Live Nation Entertainment (NYSE:LYV) issued its quarterly earnings results on Thursday. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49, Zacks reports. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $143.35 on Friday. Live Nation Entertainment has a 52-week low of $86.81 and a 52-week high of $157.75. The company has a market cap of $33.46 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 1.81 and a beta of 1.38. The firm’s fifty day moving average is $140.25 and its 200 day moving average is $124.17. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.72% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on LYV. Macquarie increased their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. TD Cowen raised their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Roth Mkm upped their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Bank of America increased their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Finally, Guggenheim upped their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $156.00.

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.