Live Nation (NYSE:LYV) – Stock analysts at Northcoast Research reduced their FY2019 EPS estimates for Live Nation in a research note issued on Wednesday, May 16th. Northcoast Research analyst J. Healy now forecasts that the company will earn $0.31 per share for the year, down from their prior forecast of $0.58. Northcoast Research has a “Buy” rating on the stock.
LYV has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Live Nation from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Citigroup upgraded shares of Live Nation from a “neutral” rating to a “buy” rating in a report on Monday, April 9th. JPMorgan Chase set a $51.00 target price on shares of Live Nation and gave the stock a “buy” rating in a report on Thursday, April 5th. Guggenheim restated a “buy” rating and issued a $53.00 target price on shares of Live Nation in a report on Thursday, March 1st. Finally, ValuEngine upgraded shares of Live Nation from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $49.14.
LYV opened at $44.86 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.00. Live Nation has a fifty-two week low of $33.13 and a fifty-two week high of $49.11. The stock has a market capitalization of $9.26 billion, a P/E ratio of -93.46 and a beta of 0.98.
Live Nation (NYSE:LYV) last posted its earnings results on Thursday, May 3rd. The company reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.05. Live Nation had a negative net margin of 0.25% and a negative return on equity of 1.76%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the business posted ($0.22) EPS. The firm’s revenue was up 19.2% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of the business. WINTON GROUP Ltd purchased a new stake in Live Nation in the 1st quarter valued at about $1,461,000. CIBC World Markets Inc. purchased a new stake in Live Nation in the 1st quarter valued at about $623,000. Xact Kapitalforvaltning AB increased its stake in Live Nation by 8.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 14,621 shares of the company’s stock valued at $616,000 after buying an additional 1,169 shares during the last quarter. Atlantic Trust Group LLC purchased a new stake in Live Nation in the 1st quarter valued at about $17,164,000. Finally, Legal & General Group Plc increased its stake in Live Nation by 5.8% in the 1st quarter. Legal & General Group Plc now owns 287,378 shares of the company’s stock valued at $12,110,000 after buying an additional 15,879 shares during the last quarter. Hedge funds and other institutional investors own 68.13% of the company’s stock.
About Live Nation
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 and/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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