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

Live Nation Entertainment (NYSE:LYV) posted its earnings results 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. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 91.89%. The business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the prior year, the business earned $1.78 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year.

Live Nation Entertainment Price Performance

Shares of LYV traded down $2.63 during trading hours on Wednesday, reaching $127.04. 709,978 shares of the stock traded hands, compared to its average volume of 2,153,537. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.76. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The company has a market cap of $29.26 billion, a P/E ratio of 135.15, a price-to-earnings-growth ratio of 3.05 and a beta of 1.33. The company’s 50-day moving average price is $110.72 and its two-hundred day moving average price is $99.96.

Analyst Ratings Changes

A number of research analysts recently weighed in on LYV shares. Roth Mkm increased their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Benchmark increased their price target on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Macquarie increased their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, StockNews.com lowered shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $135.71.

Insider Buying and Selling at Live Nation Entertainment

In related news, Director Ping Fu sold 1,701 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total transaction of $164,248.56. Following the completion of the sale, the director now owns 15,128 shares in the company, valued at approximately $1,460,759.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the sale, the director now directly owns 15,128 shares in the company, valued at $1,460,759.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 over the last ninety days. 2.72% of the stock is currently owned by company insiders.

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.