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

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

Live Nation Entertainment Stock Down 0.9 %

Shares of LYV traded down $1.46 during trading hours on Thursday, reaching $152.21. 3,058,287 shares of the stock traded hands, compared to its average volume of 1,897,166. Live Nation Entertainment has a 52 week low of $86.81 and a 52 week high of $155.10. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a fifty day simple moving average of $138.64 and a 200 day simple moving average of $121.66. The company has a market cap of $35.37 billion, a price-to-earnings ratio of 161.93, a PEG ratio of 1.79 and a beta of 1.38.

Analyst Ratings Changes

Several research firms have recently weighed in on LYV. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday. TD Cowen increased their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Guggenheim lifted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $151.47.

About Live Nation Entertainment

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.