Wall Street brokerages predict that Live Nation Entertainment, Inc. (NYSE:LYV) will post sales of $3.73 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Live Nation Entertainment’s earnings, with the highest sales estimate coming in at $3.86 billion and the lowest estimate coming in at $3.65 billion. Live Nation Entertainment posted sales of $3.56 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.8%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Live Nation Entertainment will report full-year sales of $10.49 billion for the current year, with estimates ranging from $10.21 billion to $10.92 billion. For the next year, analysts expect that the firm will report sales of $11.31 billion per share, with estimates ranging from $10.79 billion to $12.11 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, July 26th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.85 billion. Live Nation Entertainment had a negative return on equity of 2.49% and a negative net margin of 0.35%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 EPS.

LYV has been the subject of several research reports. Citigroup increased their price target on Live Nation Entertainment from $45.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, June 22nd. Stephens set a $60.00 price objective on Live Nation Entertainment and gave the stock a “buy” rating in a report on Friday, July 27th. They noted that the move was a valuation call. ValuEngine raised Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 28th. Zacks Investment Research cut Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Finally, JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $51.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $55.21.

In other Live Nation Entertainment news, CFO Elizabeth Kathleen Willard sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $49.44, for a total value of $988,800.00. Following the sale, the chief financial officer now owns 299,338 shares of the company’s stock, valued at approximately $14,799,270.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Joe Berchtold sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $49.33, for a total value of $1,973,200.00. Following the completion of the sale, the president now directly owns 163,409 shares in the company, valued at approximately $8,060,965.97. The disclosure for this sale can be found here. Insiders have sold a total of 240,000 shares of company stock worth $11,808,000 in the last three months. 5.19% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd raised its holdings in shares of Live Nation Entertainment by 30.5% in the 2nd quarter. WINTON GROUP Ltd now owns 45,221 shares of the company’s stock valued at $2,196,000 after acquiring an additional 10,557 shares in the last quarter. Global X Management Co LLC raised its holdings in shares of Live Nation Entertainment by 28.0% in the 2nd quarter. Global X Management Co LLC now owns 6,972 shares of the company’s stock valued at $339,000 after acquiring an additional 1,525 shares in the last quarter. Granahan Investment Management Inc. MA purchased a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at about $745,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its holdings in shares of Live Nation Entertainment by 68.2% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,400 shares of the company’s stock valued at $359,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Sandler Capital Management raised its holdings in shares of Live Nation Entertainment by 14.9% in the 2nd quarter. Sandler Capital Management now owns 341,610 shares of the company’s stock valued at $16,592,000 after acquiring an additional 44,280 shares in the last quarter. 70.94% of the stock is currently owned by hedge funds and other institutional investors.

LYV stock opened at $54.71 on Monday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment has a fifty-two week low of $35.94 and a fifty-two week high of $55.26.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

Featured Story: What is intrinsic value?

Get a free copy of the Zacks research report on Live Nation Entertainment (LYV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Live Nation Entertainment (NYSE:LYV)

Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.