Equities research analysts expect Live Nation Entertainment, Inc. (NYSE:LYV) to announce $2.29 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Live Nation Entertainment’s earnings, with estimates ranging from $2.28 billion to $2.29 billion. Live Nation Entertainment reported sales of $2.55 billion during the same quarter last year, which would suggest a negative year over year growth rate of 10.2%. The company is expected to issue its next earnings report on Tuesday, February 26th.

According to Zacks, analysts expect that Live Nation Entertainment will report full-year sales of $10.48 billion for the current financial year, with estimates ranging from $10.47 billion to $10.48 billion. For the next year, analysts expect that the company will post sales of $11.23 billion, with estimates ranging from $11.18 billion to $11.29 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business posted $0.53 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year.

Several brokerages have weighed in on LYV. Macquarie restated a “buy” rating and set a $60.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, November 22nd. ValuEngine upgraded Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 12th. Finally, JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Live Nation Entertainment currently has an average rating of “Buy” and a consensus price target of $57.35.

NYSE:LYV traded down $0.07 during trading hours on Friday, hitting $54.62. 762,092 shares of the company traded hands, compared to its average volume of 1,504,835. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.76. Live Nation Entertainment has a one year low of $35.94 and a one year high of $58.26. The stock has a market cap of $11.35 billion, a PE ratio of -113.79 and a beta of 1.04.

In other Live Nation Entertainment news, EVP Michael Rowles sold 25,000 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $56.47, for a total transaction of $1,411,750.00. Following the transaction, the executive vice president now directly owns 191,237 shares in the company, valued at approximately $10,799,153.39. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Ted Enloe III sold 7,000 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $54.07, for a total value of $378,490.00. Following the transaction, the director now owns 17,508 shares in the company, valued at $946,657.56. The disclosure for this sale can be found here. 5.19% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Live Nation Entertainment by 6.0% during the 3rd quarter. BlackRock Inc. now owns 13,741,840 shares of the company’s stock worth $748,517,000 after purchasing an additional 778,092 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Live Nation Entertainment by 27.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 9,709,300 shares of the company’s stock worth $471,581,000 after purchasing an additional 2,096,500 shares during the period. William Blair Investment Management LLC raised its stake in shares of Live Nation Entertainment by 2.6% during the 3rd quarter. William Blair Investment Management LLC now owns 6,744,057 shares of the company’s stock worth $367,349,000 after purchasing an additional 172,428 shares during the period. Select Equity Group L.P. raised its stake in shares of Live Nation Entertainment by 50.6% during the 3rd quarter. Select Equity Group L.P. now owns 6,720,593 shares of the company’s stock worth $366,071,000 after purchasing an additional 2,258,400 shares during the period. Finally, Findlay Park Partners LLP bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth $176,436,000. Institutional investors and hedge funds own 68.81% of the company’s stock.

Live Nation Entertainment Company Profile

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.

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

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