Live Nation Entertainment (NYSE:LYV) Issues Earnings Results, Misses Estimates 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 analysts’ consensus estimates of ($0.21) by ($0.32), Briefing.com reports. The company had revenue of $3.80 billion during 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 revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.25) earnings per share.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock traded up $6.39 during midday trading on Friday, reaching $94.66. 5,775,969 shares of the company’s stock were exchanged, compared to its average volume of 2,400,003. Live Nation Entertainment has a 52 week low of $66.38 and a 52 week high of $107.24. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $21.85 billion, a price-to-earnings ratio of 90.15, a P/E/G ratio of 1.79 and a beta of 1.34. The stock’s 50-day simple moving average is $98.60 and its 200 day simple moving average is $91.67.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares in the company, valued at $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LYV shares. TD Cowen reaffirmed a “buy” rating and issued a $108.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Roth Mkm reaffirmed a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Rosenblatt Securities increased their price objective on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Morgan Stanley raised their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $116.91.

About Live Nation Entertainment

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.