Live Nation Entertainment (NYSE:LYV) Posts Earnings Results, Misses Expectations By $0.32 EPS

Live Nation Entertainment (NYSE:LYV) announced its earnings results on Thursday. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.32), Briefing.com reports. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a return on equity of 85.50% and a net margin of 2.22%. Live Nation Entertainment’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.25) EPS.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock traded up $6.39 on Friday, hitting $94.66. The company’s stock had a trading volume of 5,775,969 shares, compared to its average volume of 2,400,003. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30. The firm has a fifty day moving average price of $98.60 and a 200-day moving average price of $91.67. Live Nation Entertainment has a 52-week low of $66.38 and a 52-week high of $107.24. The company has a market capitalization of $21.85 billion, a P/E ratio of 90.14, a price-to-earnings-growth ratio of 1.79 and a beta of 1.34.

Analyst Ratings Changes

LYV has been the subject of several analyst reports. Roth Capital upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Oppenheimer lifted their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Morgan Stanley raised their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Roth Mkm reiterated a “buy” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 23rd. Finally, TD Cowen restated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $116.91.

Insider Buying and Selling at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.85% of the stock is currently owned by insiders.

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.