Live Nation Entertainment (NYSE:LYV) Posts Earnings Results, Beats Expectations By $0.08 EPS

Live Nation Entertainment (NYSE:LYV) posted its quarterly earnings data 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. The company had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 91.89% and a net margin of 2.11%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share.

Live Nation Entertainment Trading Down 2.0 %

NYSE:LYV traded down $2.63 during trading hours on Wednesday, hitting $127.04. The company had a trading volume of 709,978 shares, compared to its average volume of 2,153,537. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment has a 52 week low of $81.38 and a 52 week high of $130.76. The company has a market capitalization of $29.26 billion, a PE ratio of 135.15, a price-to-earnings-growth ratio of 3.05 and a beta of 1.33. The stock has a 50-day moving average price of $110.72 and a 200 day moving average price of $99.96.

Insider Buying and Selling

In related news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Joe Berchtold sold 29,310 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 566,722 shares in the company, valued at $55,255,395. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of the company’s 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. The trade was 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 valued at $17,238,181 over the last three months. Corporate insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on LYV. Benchmark boosted their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com lowered Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday. Guggenheim upped their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, TD Cowen increased their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average 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.