Live Nation Entertainment (NYSE:LYV) Issues Quarterly Earnings Results, Misses Estimates By $0.81 EPS

Live Nation Entertainment (NYSE:LYV) released its quarterly earnings data on Tuesday. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.81), Zacks reports. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%.

Live Nation Entertainment Trading Up 0.6%

Shares of NYSE:LYV traded up $0.96 during trading on Tuesday, reaching $150.80. 3,339,687 shares of the company were exchanged, compared to its average volume of 2,482,728. The firm has a market capitalization of $35.36 billion, a PE ratio of 65.28, a P/E/G ratio of 12.85 and a beta of 1.40. The business’s fifty day simple moving average is $160.28 and its 200-day simple moving average is $150.88. Live Nation Entertainment has a 12-month low of $112.88 and a 12-month high of $175.25. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vident Advisory LLC grew its holdings in Live Nation Entertainment by 2.1% in the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Live Nation Entertainment by 15.8% in the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after purchasing an additional 109 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in Live Nation Entertainment in the second quarter worth $70,000. Empowered Funds LLC grew its holdings in Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in Live Nation Entertainment by 2.1% in the second quarter. Captrust Financial Advisors now owns 48,516 shares of the company’s stock worth $7,339,000 after purchasing an additional 982 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LYV shares. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday. Moffett Nathanson began coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 target price for the company. Susquehanna upped their target price on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a report on Monday. The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Citigroup lowered their price target on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Eighteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $172.42.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.