According to Zacks, “Live Nation Entertainment, Inc. is the world’s premier live entertainment company, consisting of Live Nation, Ticketmaster and Front Line Management Group. The Company engages in producing, marketing, and selling live concerts for artists via its concert pipe. Live Nation owns and operates many venues, including House of Blues music venues and locations, such as The Fillmore in San Francisco, Nikon at Jones Beach Theatre in New York and London’s Wembley Arena. In addition, it also produces, promotes or hosts theatrical, specialized motor sports and other live entertainment events. The Company is driving major innovations in ticketing technology, marketing and service. It offers ticket sales, ticket resale services, and marketing and distribution through ticketmaster.com, an e-commerce site on the Internet. Live Nation Entertainment, Inc. was formerly known as Live Nation, Inc. and is based in Beverly Hills, California. “
Other equities analysts have also recently issued reports about the stock. Macquarie cut shares of Live Nation Entertainment from an outperform rating to a neutral rating and set a $65.00 price target on the stock. in a research report on Monday, November 30th. They noted that the move was a valuation call. BidaskClub lowered shares of Live Nation Entertainment from a buy rating to a hold rating in a report on Tuesday, January 5th. Jefferies Financial Group lowered shares of Live Nation Entertainment from a buy rating to a hold rating and raised their price objective for the stock from $55.00 to $57.00 in a report on Tuesday, October 27th. Morgan Stanley raised their price objective on shares of Live Nation Entertainment from $56.00 to $70.00 and gave the stock an equal weight rating in a report on Thursday, December 17th. Finally, ValuEngine lowered shares of Live Nation Entertainment from a strong-buy rating to a buy rating in a report on Tuesday, December 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $59.38.
Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($2.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.13) by ($0.32). The firm had revenue of $184.00 million for the quarter, compared to the consensus estimate of $198.97 million. Live Nation Entertainment had a negative return on equity of 161.81% and a negative net margin of 32.49%. The company’s revenue for the quarter was down 95.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. On average, research analysts anticipate that Live Nation Entertainment will post -8.52 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in Live Nation Entertainment by 82.2% in the 2nd quarter. Principal Financial Group Inc. now owns 7,398,762 shares of the company’s stock valued at $327,988,000 after purchasing an additional 3,338,596 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Live Nation Entertainment by 16.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,361 shares of the company’s stock valued at $370,000 after buying an additional 1,178 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Live Nation Entertainment by 28.5% in the 2nd quarter. Federated Hermes Inc. now owns 1,655 shares of the company’s stock valued at $74,000 after buying an additional 367 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $220,000. Finally, Cigna Investments Inc. New acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 65.99% of the company’s stock.
About Live Nation Entertainment
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; and produces music festivals and creates associated content.
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