Macquarie reaffirmed their buy rating on shares of Live Nation Entertainment (NYSE:LYV) in a report published on Wednesday morning. The brokerage currently has a $52.00 price objective on the stock. Macquarie also issued estimates for Live Nation Entertainment’s Q4 2017 earnings at ($0.41) EPS, FY2017 earnings at $0.19 EPS, Q1 2018 earnings at ($0.18) EPS, Q4 2018 earnings at ($0.35) EPS, FY2018 earnings at $0.45 EPS, Q1 2019 earnings at ($0.08) EPS, Q3 2019 earnings at $0.72 EPS and Q4 2019 earnings at ($0.33) EPS.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Live Nation Entertainment from a buy rating to a hold rating in a report on Thursday, October 26th. Citigroup cut shares of Live Nation Entertainment from a buy rating to a neutral rating and set a $47.00 target price on the stock. in a report on Friday, December 22nd. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. Finally, Jefferies Group reaffirmed a buy rating and issued a $42.00 target price on shares of Live Nation Entertainment in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Live Nation Entertainment has a consensus rating of Buy and a consensus price target of $44.57.
Shares of Live Nation Entertainment (NYSE:LYV) opened at $43.70 on Wednesday. The firm has a market cap of $9,037.16, a P/E ratio of 2,186.09 and a beta of 1.06. Live Nation Entertainment has a 1-year low of $27.22 and a 1-year high of $46.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39.
Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.02). The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.36 billion. Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. equities analysts forecast that Live Nation Entertainment will post -0.15 EPS for the current year.
In other Live Nation Entertainment news, EVP Michael Rowles sold 46,511 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $43.35, for a total transaction of $2,016,251.85. Following the sale, the executive vice president now owns 192,054 shares of the company’s stock, valued at $8,325,540.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Rapino sold 210,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $45.14, for a total transaction of $9,479,400.00. Following the sale, the chief executive officer now directly owns 185,277 shares in the company, valued at approximately $8,363,403.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,106,511 shares of company stock worth $49,467,752. 4.77% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. IHT Wealth Management LLC raised its holdings in Live Nation Entertainment by 58.5% during the second quarter. IHT Wealth Management LLC now owns 2,574 shares of the company’s stock worth $280,000 after purchasing an additional 950 shares in the last quarter. Assetmark Inc. acquired a new stake in Live Nation Entertainment during the third quarter worth approximately $134,000. Massey Quick Simon & CO. LLC acquired a new stake in Live Nation Entertainment during the third quarter worth approximately $167,000. Chevy Chase Trust Holdings Inc. acquired a new stake in Live Nation Entertainment during the third quarter worth approximately $209,000. Finally, Trexquant Investment LP acquired a new stake in Live Nation Entertainment during the third quarter worth approximately $286,000. 68.08% of the stock is currently owned by institutional investors.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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