Analysts expect that Live Nation Entertainment, Inc. (NYSE:LYV) will announce sales of $3.20 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Live Nation Entertainment’s earnings, with the lowest sales estimate coming in at $3.09 billion and the highest estimate coming in at $3.39 billion. Live Nation Entertainment reported sales of $2.87 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 11.5%. The business is expected to report its next quarterly earnings report on Thursday, July 25th.

On average, analysts expect that Live Nation Entertainment will report full year sales of $11.84 billion for the current financial year, with estimates ranging from $11.40 billion to $12.23 billion. For the next year, analysts expect that the business will report sales of $12.78 billion, with estimates ranging from $12.29 billion to $13.58 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Live Nation Entertainment.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.03. Live Nation Entertainment had a return on equity of 1.77% and a net margin of 0.22%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the firm posted ($0.24) earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis.

LYV has been the subject of several recent analyst reports. ValuEngine lowered Live Nation Entertainment from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Berenberg Bank initiated coverage on Live Nation Entertainment in a research report on Tuesday, May 14th. They set a “buy” rating and a $73.00 target price for the company. Zacks Investment Research lowered Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Citigroup lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their target price for the company from $59.00 to $63.00 in a research report on Friday, March 15th. They noted that the move was a valuation call. Finally, Stephens boosted their target price on Live Nation Entertainment to $70.00 and gave the company an “overweight” rating in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Live Nation Entertainment has a consensus rating of “Buy” and a consensus target price of $63.18.

Shares of NYSE:LYV traded down $0.01 during trading hours on Friday, hitting $63.17. 119,038 shares of the company’s stock traded hands, compared to its average volume of 1,221,776. Live Nation Entertainment has a 1 year low of $45.79 and a 1 year high of $67.00. The firm has a market capitalization of $13.40 billion, a PE ratio of -701.89 and a beta of 1.13. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.94 and a quick ratio of 0.94.

In related news, Director Ariel Emanuel sold 7,790 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $64.25, for a total value of $500,507.50. Following the completion of the sale, the director now owns 71,394 shares in the company, valued at $4,587,064.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Ted Enloe III sold 5,447 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $62.45, for a total value of $340,165.15. Following the completion of the sale, the director now owns 67,886 shares of the company’s stock, valued at approximately $4,239,480.70. The disclosure for this sale can be found here. Insiders sold 21,237 shares of company stock valued at $1,359,873 in the last quarter. 4.82% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in LYV. Scout Investments Inc. raised its stake in Live Nation Entertainment by 179.1% in the first quarter. Scout Investments Inc. now owns 218,435 shares of the company’s stock worth $13,879,000 after buying an additional 140,170 shares in the last quarter. Macquarie Group Ltd. bought a new position in Live Nation Entertainment in the fourth quarter worth approximately $217,000. State Board of Administration of Florida Retirement System raised its stake in Live Nation Entertainment by 2.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 179,985 shares of the company’s stock worth $11,436,000 after buying an additional 3,542 shares in the last quarter. Highstreet Asset Management Inc. bought a new position in Live Nation Entertainment in the first quarter worth approximately $662,000. Finally, Mizuho Securities USA LLC bought a new position in Live Nation Entertainment in the fourth quarter worth approximately $685,000. Hedge funds and other institutional investors own 70.69% of the company’s stock.

Live Nation Entertainment Company Profile

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

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Earnings History and Estimates for Live Nation Entertainment (NYSE:LYV)

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