Live Nation Entertainment (NYSE:LYV) Issues Earnings Results

Live Nation Entertainment (NYSE:LYV) announced its earnings results 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 company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. Live Nation Entertainment’s quarterly revenue was down 6.2% on a year-over-year basis.

Live Nation Entertainment Stock Down 2.1 %

Shares of LYV stock traded down $2.69 during mid-day trading on Wednesday, hitting $126.98. The company’s stock had a trading volume of 4,469,044 shares, compared to its average volume of 2,170,617. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.76. The business has a 50-day moving average price of $110.72 and a 200 day moving average price of $99.96. The company has a debt-to-equity ratio of 6.10, a quick ratio of 0.92 and a current ratio of 1.01. The stock has a market cap of $29.25 billion, a price-to-earnings ratio of 135.15, a PEG ratio of 3.15 and a beta of 1.33.

Insider Transactions at Live Nation Entertainment

In related news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock worth $17,238,181 over the last quarter. 2.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com lowered Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday. Guggenheim boosted their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI upped their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group upped their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target 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.