William Blair Analysts Boost Earnings Estimates for Live Nation Entertainment, Inc. (NYSE:LYV)
Live Nation Entertainment, Inc. (NYSE:LYV) – Research analysts at William Blair increased their Q3 2017 EPS estimates for Live Nation Entertainment in a note issued to investors on Thursday. William Blair analyst R. Sundby now anticipates that the company will earn $0.68 per share for the quarter, up from their prior forecast of $0.60. William Blair has a “Outperform” rating on the stock.
Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. Live Nation Entertainment had a return on equity of 1.61% and a net margin of 0.25%. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the firm posted $0.13 earnings per share. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: This piece was reported by Daily Political and is owned by of Daily Political. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/08/11/william-blair-analysts-boost-earnings-estimates-for-live-nation-entertainment-inc-nyselyv.html.
A number of other brokerages have also commented on LYV. Zacks Investment Research lowered Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday. J P Morgan Chase & Co restated a “buy” rating on shares of Live Nation Entertainment in a research note on Friday. Stephens restated an “overweight” rating and issued a $44.00 target price (up previously from $36.00) on shares of Live Nation Entertainment in a research note on Thursday. Northcoast Research downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research note on Monday, June 19th. They noted that the move was a valuation call. Finally, BidaskClub upgraded Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $38.75.
Live Nation Entertainment (NYSE LYV) opened at 39.61 on Friday. The company’s 50-day moving average price is $36.02 and its 200 day moving average price is $32.48. The firm’s market capitalization is $8.10 billion. Live Nation Entertainment has a 12 month low of $25.56 and a 12 month high of $42.20.
A number of large investors have recently modified their holdings of LYV. William Blair Investment Management LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter worth about $109,693,000. Epoch Investment Partners Inc. acquired a new stake in shares of Live Nation Entertainment during the first quarter worth about $44,071,000. Harbor Spring Capital LLC acquired a new stake in shares of Live Nation Entertainment during the first quarter worth about $38,791,000. Acadian Asset Management LLC boosted its stake in shares of Live Nation Entertainment by 818.0% in the second quarter. Acadian Asset Management LLC now owns 1,086,576 shares of the company’s stock worth $37,868,000 after buying an additional 968,217 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Live Nation Entertainment by 80.9% in the second quarter. Victory Capital Management Inc. now owns 1,516,512 shares of the company’s stock worth $52,851,000 after buying an additional 678,283 shares during the last quarter. 64.45% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Robert Ted Enloe III sold 6,337 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $35.82, for a total value of $226,991.34. Following the transaction, the director now owns 23,450 shares in the company, valued at $839,979. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $34.86, for a total transaction of $697,200.00. Following the sale, the chief financial officer now directly 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 currently owned by corporate insiders.
About Live Nation Entertainment
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.
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