Live Nation Entertainment (NYSE:LYV) Announces Earnings Results

Live Nation Entertainment (NYSE:LYV) released its quarterly earnings results on Tuesday. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03), Briefing.com reports. The company had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 EPS.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $94.66 on Wednesday. Live Nation Entertainment has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The firm’s 50-day simple moving average is $93.67 and its 200 day simple moving average is $94.96. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The stock has a market cap of $21.75 billion, a P/E ratio of 90.15, a P/E/G ratio of 2.14 and a beta of 1.34.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LYV. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Morgan Stanley reiterated an “overweight” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Oppenheimer restated an “outperform” rating and set a $110.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, June 25th. Redburn Atlantic upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $114.00 to $115.00 in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. dropped their target price on Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $115.58.

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.