Live Nation Entertainment (NYSE:LYV) Announces Quarterly Earnings Results

Live Nation Entertainment (NYSE:LYV - Get Free Report) announced its quarterly earnings results on Monday. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.08, Briefing.com reports. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business's revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share.

Live Nation Entertainment Price Performance

Shares of LYV stock traded up $5.21 during trading hours on Tuesday, reaching $129.01. 4,957,116 shares of the company were exchanged, compared to its average volume of 2,150,265. The stock's fifty day moving average is $110.04 and its two-hundred day moving average is $99.68. Live Nation Entertainment has a fifty-two week low of $81.38 and a fifty-two week high of $130.76. The company has a market cap of $29.71 billion, a price-to-earnings ratio of 121.93, a P/E/G ratio of 3.03 and a beta of 1.33. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LYV. TD Cowen upped their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday. Guggenheim boosted their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company a "buy" rating in a research report on Tuesday. Oppenheimer upped their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the company an "outperform" rating in a research note on Tuesday. Rosenblatt Securities reiterated a "buy" rating and set a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Finally, Bank of America began coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a "buy" rating and a $125.00 price target for the company. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $134.77.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,000 shares of the company's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Brian Capo sold 5,000 shares of the firm's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares of the company's stock, valued at $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Rapino sold 98,849 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares of the company's stock, valued at $360,956,212.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 over the last ninety days. Company insiders own 2.72% of the company's stock.

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.