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

Live Nation Entertainment (NYSE:LYV) announced its earnings results on Monday. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08, Briefing.com reports. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 91.89% and a net margin of 2.11%. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS.

Live Nation Entertainment Price Performance

LYV opened at $129.67 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.76. The company has a fifty day simple moving average of $110.72 and a 200 day simple moving average of $99.96. The stock has a market cap of $29.87 billion, a P/E ratio of 137.95, a P/E/G ratio of 3.05 and a beta of 1.33.

Analysts Set New Price Targets

Several brokerages have recently commented on LYV. TD Cowen boosted their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday. 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 report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Guggenheim upped their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Evercore ISI upped their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.77.

Insider Activity 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 shares were sold at an average price of $97.50, for a total value 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 $360,956,212.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock worth $17,238,181 in the last quarter. Corporate insiders own 2.72% of the company’s stock.

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.