Live Nation Entertainment, Inc. (NYSE:LYV) announced its quarterly earnings results on Wednesday. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10, Briefing.com reports. Live Nation Entertainment had a net margin of 0.25% and a return on equity of 1.61%. The company had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the business posted $0.13 earnings per share. Live Nation Entertainment’s quarterly revenue was up 29.3% on a year-over-year basis.

Live Nation Entertainment (NYSE LYV) traded down 3.21% on Friday, reaching $38.34. 5,062,634 shares of the company’s stock were exchanged. The firm has a market cap of $7.90 billion, a PE ratio of 9585.00 and a beta of 1.00. Live Nation Entertainment has a one year low of $25.56 and a one year high of $42.20. The firm has a 50 day moving average price of $36.02 and a 200 day moving average price of $32.48.

In other news, Director Robert Ted Enloe III sold 6,337 shares of Live Nation Entertainment stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $35.82, for a total transaction of $226,991.34. Following the transaction, the director now owns 23,450 shares in the company, valued at approximately $839,979. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of Live Nation Entertainment stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $34.86, for a total value of $697,200.00. Following the transaction, the chief financial officer now owns 286,216 shares in the company, valued at approximately $9,977,489.76. The disclosure for this sale can be found here. 4.77% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of LYV. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Live Nation Entertainment by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after buying an additional 445 shares in the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Live Nation Entertainment during the second quarter worth about $210,000. PICTET BANK & TRUST Ltd acquired a new stake in shares of Live Nation Entertainment during the first quarter worth about $225,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Live Nation Entertainment during the first quarter worth about $233,000. Finally, KBC Group NV acquired a new stake in shares of Live Nation Entertainment during the first quarter worth about $238,000. Institutional investors and hedge funds own 64.45% of the company’s stock.

Several brokerages recently weighed in on LYV. J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a research report on Friday. Zacks Investment Research cut shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Stephens restated an “overweight” rating and issued a $44.00 price target (up previously from $36.00) on shares of Live Nation Entertainment in a research report on Thursday. William Blair began coverage on shares of Live Nation Entertainment in a research report on Friday, July 21st. They issued an “outperform” rating on the stock. Finally, BidaskClub upgraded shares of Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.75.

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Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Earnings History for Live Nation Entertainment (NYSE:LYV)

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