Live Nation Entertainment (NYSE:LYV) Issues Earnings Results

Live Nation Entertainment (NYSE:LYV) issued its quarterly earnings data on Thursday. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion.

Live Nation Entertainment Stock Up 2.2 %

Shares of LYV traded up $3.35 during trading hours on Friday, reaching $155.67. 1,198,829 shares of the stock traded hands, compared to its average volume of 1,875,188. The stock has a fifty day simple moving average of $138.96 and a 200 day simple moving average of $121.87. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment has a 52 week low of $86.81 and a 52 week high of $157.75. The company has a market cap of $36.17 billion, a price-to-earnings ratio of 165.65, a PEG ratio of 1.83 and a beta of 1.38.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Guggenheim raised their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. TD Cowen boosted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday. Finally, Citigroup increased their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $152.80.

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.