Brokers Set Expectations for Live Nation Entertainment, Inc.’s Q1 2018 Earnings (LYV)
Live Nation Entertainment, Inc. (NYSE:LYV) – Jefferies Group issued their Q1 2018 EPS estimates for Live Nation Entertainment in a report issued on Tuesday. Jefferies Group analyst J. Janedis expects that the company will post earnings per share of ($0.29) for the quarter. Jefferies Group has a “Buy” rating and a $46.00 price target on the stock. Jefferies Group also issued estimates for Live Nation Entertainment’s Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at ($0.39) EPS, Q1 2019 earnings at ($0.25) EPS, Q2 2019 earnings at $0.41 EPS, Q4 2019 earnings at ($0.36) EPS and FY2019 earnings at $0.53 EPS.
LYV has been the topic of several other research reports. Macquarie reiterated a “buy” rating and issued a $55.00 target price on shares of Live Nation Entertainment in a report on Thursday. Citigroup downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Finally, Guggenheim reiterated a “buy” rating and issued a $53.00 target price on shares of Live Nation Entertainment in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Live Nation Entertainment has a consensus rating of “Buy” and a consensus target price of $46.86.
A number of hedge funds and other institutional investors have recently bought and sold shares of LYV. Canada Pension Plan Investment Board increased its stake in Live Nation Entertainment by 8,038.5% in the third quarter. Canada Pension Plan Investment Board now owns 5,786,500 shares of the company’s stock valued at $252,002,000 after acquiring an additional 5,715,400 shares during the period. William Blair Investment Management LLC increased its stake in Live Nation Entertainment by 35.9% in the fourth quarter. William Blair Investment Management LLC now owns 4,138,611 shares of the company’s stock valued at $176,181,000 after acquiring an additional 1,093,022 shares during the period. Renaissance Technologies LLC increased its stake in Live Nation Entertainment by 25.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,767,366 shares of the company’s stock valued at $160,377,000 after acquiring an additional 758,666 shares during the period. Wells Fargo & Company MN increased its stake in Live Nation Entertainment by 29.1% in the fourth quarter. Wells Fargo & Company MN now owns 2,786,851 shares of the company’s stock valued at $118,636,000 after acquiring an additional 627,695 shares during the period. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Live Nation Entertainment in the fourth quarter valued at about $26,704,000. 69.32% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Michael Rapino sold 70,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $42.87, for a total transaction of $3,000,900.00. Following the transaction, the chief executive officer now owns 115,277 shares in the company, valued at approximately $4,941,924.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Joe Berchtold sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $43.08, for a total transaction of $861,600.00. Following the transaction, the chief operating officer now owns 97,918 shares in the company, valued at approximately $4,218,307.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 300,000 shares of company stock worth $12,936,600. Insiders own 4.77% of the company’s stock.
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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.
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