Media stories about Live Nation Entertainment (NYSE:LYV) have been trending somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Live Nation Entertainment earned a daily sentiment score of 0.12 on Accern’s scale. Accern also assigned press coverage about the company an impact score of 46.0364679488287 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the media headlines that may have impacted Accern Sentiment’s analysis:
- Putting the Heat on Live Nation Entertainment, Inc. (LYV), Graphic Packaging Holding Company (GPK) – Market Movers (financialqz.com)
- Value Hedging: 3 Reasons For Going Long Viacom And Shorting Live Nation – Seeking Alpha (seekingalpha.com)
- Def Leppard and Journey Announce Massive Tour Proving Arena Rock Is Far From Dead (finance.yahoo.com)
- Rockets’ ticket sales increase due to ticketing system (finance.yahoo.com)
- AXS offering single transaction of primary, secondary ticket purchases (finance.yahoo.com)
LYV has been the subject of several analyst reports. Zacks Investment Research raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday, October 10th. Jefferies Group reissued a “buy” rating and set a $42.00 price target on shares of Live Nation Entertainment in a report on Monday, October 16th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. Macquarie reissued a “buy” rating and set a $48.00 price target on shares of Live Nation Entertainment in a report on Sunday, November 5th. Finally, Citigroup cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Live Nation Entertainment currently has a consensus rating of “Buy” and an average price target of $44.57.
Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, November 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.02). Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period last year, the business posted $0.49 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. research analysts predict that Live Nation Entertainment will post -0.15 earnings per share for the current fiscal year.
In other news, EVP Michael Rowles sold 46,511 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $43.35, for a total transaction of $2,016,251.85. Following the completion of the transaction, the executive vice president now directly owns 192,054 shares of the company’s stock, valued at approximately $8,325,540.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Rapino sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $45.46, for a total transaction of $3,182,200.00. Following the sale, the chief executive officer now owns 395,277 shares in the company, valued at approximately $17,969,292.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,106,511 shares of company stock valued at $49,467,752. Corporate insiders own 4.77% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.
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