Live Nation Entertainment, Inc. (NYSE:LYV) – Investment analysts at Jefferies Group reduced their Q3 2017 EPS estimates for shares of Live Nation Entertainment in a research report issued to clients and investors on Wednesday. Jefferies Group analyst J. Janedis now forecasts that the company will earn $0.59 per share for the quarter, down from their prior forecast of $0.62. Jefferies Group currently has a “Buy” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for Live Nation Entertainment’s FY2017 earnings at $0.24 EPS and Q3 2018 earnings at $0.67 EPS.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Live Nation Entertainment had a return on equity of 1.61% and a net margin of 0.25%. Live Nation Entertainment’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 earnings per share.

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Several other research firms have also recently weighed in on LYV. Zacks Investment Research cut Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 11th. Macquarie reissued an “outperform” rating and set a $38.00 price target on shares of Live Nation Entertainment in a report on Sunday, May 14th. ValuEngine raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Guggenheim initiated coverage on Live Nation Entertainment in a report on Wednesday, May 24th. They set a “buy” rating and a $40.00 price target for the company. Finally, William Blair initiated coverage on Live Nation Entertainment in a report on Friday, July 21st. They set an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.75.

Shares of Live Nation Entertainment (NYSE LYV) opened at 39.61 on Friday. The company’s market capitalization is $8.10 billion. Live Nation Entertainment has a 52-week low of $25.56 and a 52-week high of $42.20. The stock’s 50 day moving average price is $36.02 and its 200-day moving average price is $32.48.

A number of institutional investors have recently bought and sold shares of LYV. Vanguard Group Inc. raised its position in Live Nation Entertainment by 5.2% in the first quarter. Vanguard Group Inc. now owns 10,414,998 shares of the company’s stock worth $316,303,000 after buying an additional 517,577 shares during the period. Sentry Investments Corp. raised its position in Live Nation Entertainment by 10.0% in the first quarter. Sentry Investments Corp. now owns 5,690,700 shares of the company’s stock worth $172,827,000 after buying an additional 519,400 shares during the period. Principal Financial Group Inc. raised its position in Live Nation Entertainment by 2.4% in the second quarter. Principal Financial Group Inc. now owns 5,200,396 shares of the company’s stock worth $181,234,000 after buying an additional 120,428 shares during the period. State Street Corp raised its position in Live Nation Entertainment by 2.9% in the first quarter. State Street Corp now owns 3,401,554 shares of the company’s stock worth $103,306,000 after buying an additional 95,550 shares during the period. Finally, William Blair Investment Management LLC bought a new position in Live Nation Entertainment during the second quarter worth approximately $109,693,000. Hedge funds and other institutional investors own 64.45% of the company’s stock.

In other Live Nation Entertainment news, Director Robert Ted Enloe III sold 6,337 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $35.82, for a total transaction of $226,991.34. Following the transaction, the director now owns 23,450 shares in the company, valued at approximately $839,979. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Elizabeth Kathleen Willard sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $34.86, for a total value of $697,200.00. Following the transaction, the chief financial officer now 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 owned by company 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.

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

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