Equities research analysts forecast that Live Nation Entertainment, Inc. (NYSE:LYV) will post $3.20 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Live Nation Entertainment’s earnings. The lowest sales estimate is $3.09 billion and the highest is $3.39 billion. Live Nation Entertainment reported sales of $2.87 billion during the same quarter last year, which indicates a positive year over year growth rate of 11.5%. The business is expected to report its next earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Live Nation Entertainment will report full year sales of $11.84 billion for the current financial year, with estimates ranging from $11.40 billion to $12.23 billion. For the next year, analysts anticipate that the firm will report sales of $12.78 billion, with estimates ranging from $12.29 billion to $13.58 billion. Zacks Investment Research’s sales averages 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 results on Thursday, May 2nd. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.03. Live Nation Entertainment had a return on equity of 1.77% and a net margin of 0.22%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the business earned ($0.24) earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year.

A number of equities research analysts have issued reports on LYV shares. Zacks Investment Research raised Live Nation Entertainment from a “hold” rating to a “strong-buy” rating and set a $63.00 price target for the company in a research report on Thursday, February 14th. Citigroup downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their price target for the company from $59.00 to $63.00 in a research report on Friday, March 15th. They noted that the move was a valuation call. ValuEngine downgraded Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Stephens boosted their price target on Live Nation Entertainment to $70.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. Finally, Berenberg Bank started coverage on Live Nation Entertainment in a research report on Tuesday, May 14th. They set a “buy” rating and a $73.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $62.00.

In other news, Director Mark S. Shapiro sold 8,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $64.90, for a total value of $519,200.00. Following the completion of the sale, the director now owns 36,765 shares of the company’s stock, valued at $2,386,048.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ariel Emanuel sold 7,790 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $64.25, for a total value of $500,507.50. Following the completion of the sale, the director now directly owns 71,394 shares of the company’s stock, valued at approximately $4,587,064.50. The disclosure for this sale can be found here. 5.19% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LYV. Gateway Investment Advisers LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth about $3,174,000. DNB Asset Management AS lifted its stake in shares of Live Nation Entertainment by 9.3% in the fourth quarter. DNB Asset Management AS now owns 14,739 shares of the company’s stock worth $726,000 after acquiring an additional 1,252 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth about $252,000. Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth about $246,000. Finally, Bank of Montreal Can lifted its stake in shares of Live Nation Entertainment by 137.7% in the fourth quarter. Bank of Montreal Can now owns 99,553 shares of the company’s stock worth $4,904,000 after acquiring an additional 57,678 shares in the last quarter. 69.97% of the stock is owned by institutional investors.

LYV stock traded up $0.93 during trading on Friday, reaching $63.90. 738,454 shares of the stock traded hands, compared to its average volume of 1,285,957. Live Nation Entertainment has a 52-week low of $42.61 and a 52-week high of $67.00. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. The company has a market cap of $13.43 billion, a PE ratio of -710.00 and a beta of 1.14.

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 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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