Live Nation Entertainment (NYSE:LYV) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

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

Live Nation Entertainment Stock Down 0.9 %

Shares of NYSE:LYV traded down $0.85 during midday trading on Tuesday, reaching $94.62. The company had a trading volume of 3,025,594 shares, compared to its average volume of 2,207,178. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s fifty day moving average price is $93.82 and its 200-day moving average price is $94.93. The stock has a market capitalization of $21.74 billion, a P/E ratio of 90.05, a PEG ratio of 2.09 and a beta of 1.34. Live Nation Entertainment has a one year low of $76.48 and a one year high of $107.24.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LYV. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Morgan Stanley restated an “overweight” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Redburn Atlantic upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their price target for the company from $114.00 to $115.00 in a report on Thursday, May 9th. JPMorgan Chase & Co. cut their price target on shares of Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. Finally, Roth Mkm restated a “buy” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment has an average 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.