Analysts forecast that Live Nation Entertainment, Inc. (NYSE:LYV) will post sales of $2.06 billion for the current quarter, Zacks reports. Eight analysts have provided estimates for Live Nation Entertainment’s earnings, with the highest sales estimate coming in at $2.27 billion and the lowest estimate coming in at $1.90 billion. Live Nation Entertainment reported sales of $1.80 billion in the same quarter last year, which would suggest a positive year over year growth rate of 14.4%. The firm is expected to report its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Live Nation Entertainment will report full year sales of $2.06 billion for the current year, with estimates ranging from $9.69 billion to $10.06 billion. For the next financial year, analysts forecast that the firm will post sales of $10.69 billion per share, with estimates ranging from $10.29 billion to $11.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Live Nation Entertainment.

A number of equities analysts recently weighed in on the stock. Jefferies Group reissued a “buy” rating and issued a $42.00 price target on shares of Live Nation Entertainment in a report on Monday, October 16th. Macquarie reissued a “buy” rating and issued a $52.00 price target on shares of Live Nation Entertainment in a report on Wednesday, January 17th. Zacks Investment Research raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, October 24th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. Finally, Citigroup downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Saturday, December 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $44.57.

Live Nation Entertainment (NYSE:LYV) traded down $0.09 during midday trading on Monday, hitting $44.13. 717,977 shares of the stock traded hands, compared to its average volume of 1,251,157. Live Nation Entertainment has a 12-month low of $28.00 and a 12-month high of $46.99. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $9,086.79, a price-to-earnings ratio of 2,193.60 and a beta of 1.01.

In related news, CEO Michael Rapino sold 70,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $44.93, for a total value of $3,145,100.00. Following the transaction, the chief executive officer now directly owns 395,277 shares of the company’s stock, valued at approximately $17,759,795.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Joe Berchtold sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $46.55, for a total transaction of $931,000.00. Following the completion of the transaction, the chief operating officer now directly owns 77,918 shares in the company, valued at $3,627,082.90. The disclosure for this sale can be found here. Insiders sold a total of 970,000 shares of company stock worth $43,360,700 over the last three months. 4.77% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New Mexico Educational Retirement Board purchased a new stake in Live Nation Entertainment during the fourth quarter valued at about $1,413,000. LS Investment Advisors LLC lifted its holdings in Live Nation Entertainment by 48.0% during the fourth quarter. LS Investment Advisors LLC now owns 15,618 shares of the company’s stock valued at $665,000 after purchasing an additional 5,063 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Live Nation Entertainment during the fourth quarter valued at about $1,351,000. KBC Group NV lifted its holdings in Live Nation Entertainment by 137.4% during the fourth quarter. KBC Group NV now owns 420,427 shares of the company’s stock valued at $17,897,000 after purchasing an additional 243,315 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Live Nation Entertainment by 138.2% during the fourth quarter. Swiss National Bank now owns 532,400 shares of the company’s stock valued at $22,664,000 after purchasing an additional 308,900 shares during the last quarter. 68.43% of the stock is currently owned by institutional investors and hedge funds.

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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.

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

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