Live Nation Entertainment (NYSE:LYV – Get Rating) announced its earnings results on Thursday. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.13, Briefing.com reports. The business had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the company earned ($0.90) earnings per share. Live Nation Entertainment’s quarterly revenue was up 669.9% on a year-over-year basis.
Live Nation Entertainment Stock Performance
NYSE LYV traded down $0.74 during trading hours on Friday, reaching $96.76. The company’s stock had a trading volume of 2,114,215 shares, compared to its average volume of 1,261,749. The stock has a market cap of $22.07 billion, a PE ratio of -193.52 and a beta of 1.32. Live Nation Entertainment has a fifty-two week low of $78.14 and a fifty-two week high of $127.75. The company’s 50-day moving average is $89.00 and its two-hundred day moving average is $101.38.
Analysts Set New Price Targets
LYV has been the subject of several analyst reports. Wolfe Research lowered their price target on shares of Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating for the company in a report on Thursday, June 2nd. William Blair restated an “outperform” rating on shares of Live Nation Entertainment in a report on Friday, April 8th. Citigroup lowered their target price on shares of Live Nation Entertainment from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Thursday, July 7th. Macquarie upgraded shares of Live Nation Entertainment from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $117.00 to $105.00 in a report on Tuesday, July 5th. Finally, Rosenblatt Securities assumed coverage on shares of Live Nation Entertainment in a report on Monday, April 25th. They issued a “buy” rating and a $138.00 target price for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.90.
Institutional Investors Weigh In On Live Nation Entertainment
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.
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