Live Nation Entertainment (NYSE:LYV) Releases Earnings Results, Beats Estimates By $1.49 EPS

Live Nation Entertainment (NYSE:LYV) posted its earnings results on Thursday. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49, Zacks reports. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%.

Live Nation Entertainment Price Performance

NYSE:LYV traded down $1.46 during mid-day trading on Thursday, hitting $152.21. 3,060,569 shares of the stock traded hands, compared to its average volume of 1,897,703. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a 12-month low of $86.81 and a 12-month high of $155.10. The company has a market cap of $35.37 billion, a PE ratio of 161.93, a price-to-earnings-growth ratio of 1.79 and a beta of 1.38. The business’s 50-day moving average price is $138.64 and its 200 day moving average price is $121.66.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday. Macquarie increased their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Bank of America boosted their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley upped their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, TD Cowen lifted their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $151.47.

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.