Brokerages predict that Live Nation Entertainment, Inc. (NYSE:LYV) will announce sales of $321.52 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Live Nation Entertainment’s earnings, with estimates ranging from $271.80 million to $378.16 million. Live Nation Entertainment reported sales of $1.37 billion in the same quarter last year, which would suggest a negative year over year growth rate of 76.5%. The business is scheduled to issue its next earnings results after the market closes on Thursday, May 6th.

According to Zacks, analysts expect that Live Nation Entertainment will report full-year sales of $5.91 billion for the current financial year, with estimates ranging from $4.63 billion to $7.11 billion. For the next fiscal year, analysts expect that the company will post sales of $11.86 billion, with estimates ranging from $11.14 billion to $12.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 25th. The company reported ($2.04) EPS for the quarter, topping the consensus estimate of ($2.42) by $0.38. The company had revenue of $237.30 million during the quarter, compared to analyst estimates of $257.15 million. Live Nation Entertainment had a negative net margin of 32.49% and a negative return on equity of 161.81%.

Several research analysts have commented on LYV shares. Zacks Investment Research raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, March 17th. Cowen lifted their price objective on shares of Live Nation Entertainment from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 26th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $65.00.

In other Live Nation Entertainment news, President Joe Berchtold sold 85,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $91.80, for a total value of $7,803,000.00. Following the sale, the president now owns 915,769 shares in the company, valued at approximately $84,067,594.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 4th. The stock was sold at an average price of $90.53, for a total value of $905,300.00. Following the completion of the sale, the director now owns 58,136 shares in the company, valued at approximately $5,263,052.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 420,369 shares of company stock worth $37,596,584. 5.48% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. NEXT Financial Group Inc boosted its position in Live Nation Entertainment by 448.1% in the 4th quarter. NEXT Financial Group Inc now owns 444 shares of the company’s stock worth $32,000 after purchasing an additional 363 shares in the last quarter. Signaturefd LLC lifted its position in shares of Live Nation Entertainment by 92.9% during the 4th quarter. Signaturefd LLC now owns 486 shares of the company’s stock valued at $36,000 after buying an additional 234 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $37,000. Steward Partners Investment Advisory LLC lifted its position in shares of Live Nation Entertainment by 76.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 509 shares of the company’s stock valued at $37,000 after buying an additional 220 shares in the last quarter. Finally, Vantage Consulting Group Inc purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

NYSE LYV traded down $2.87 on Tuesday, hitting $79.28. 1,576,405 shares of the stock were exchanged, compared to its average volume of 2,277,941. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a fifty day moving average price of $83.97 and a two-hundred day moving average price of $74.77. The firm has a market capitalization of $17.34 billion, a P/E ratio of -11.42 and a beta of 1.38. Live Nation Entertainment has a 52-week low of $36.01 and a 52-week high of $94.63.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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

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