Jefferies Group Weighs in on Live Nation Entertainment, Inc.’s Q3 2017 Earnings (NYSE:LYV)
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.
ILLEGAL ACTIVITY NOTICE: “Jefferies Group Weighs in on Live Nation Entertainment, Inc.’s Q3 2017 Earnings (NYSE:LYV)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.watchlistnews.com/jefferies-group-weighs-in-on-live-nation-entertainment-inc-s-q3-2017-earnings-nyselyv/1471764.html.
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.
Receive News & Ratings for Live Nation Entertainment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.