Live Nation Entertainment (NYSE:LYV) Posts Earnings Results, Beats Expectations By $1.49 EPS

Live Nation Entertainment (NYSE:LYV) issued its quarterly earnings results on Thursday. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $1.49, Zacks reports. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%.

Live Nation Entertainment Trading Down 0.9 %

Live Nation Entertainment stock traded down $1.46 during trading hours on Thursday, hitting $152.21. The stock had a trading volume of 3,058,287 shares, compared to its average volume of 1,897,166. The stock has a market cap of $35.37 billion, a price-to-earnings ratio of 161.93, a P/E/G ratio of 1.79 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The business’s 50 day simple moving average is $138.64 and its 200-day simple moving average is $121.66. Live Nation Entertainment has a one year low of $86.81 and a one year high of $155.10.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LYV. Evercore ISI upped their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Bank of America increased their price objective on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Oppenheimer boosted their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.47.

Live Nation Entertainment Company Profile

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.