Live Nation Entertainment, Inc. (LYV) is a live entertainment company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on LYV’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Live Nation Entertainment could be a solid choice for investors.
Current Quarter Estimates for LYV
In the past 30 days, 2 estimates have gone higher for Live Nation Entertainment while 0 have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 11 cents a share 30 days ago, to 13 today, a move of 18.2%.
Current Year Estimates for LYV
Meanwhile, Live Nation Entertainment’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 15 cents per share 30 days ago to 20 cents per share today, an increase of 33.3%.
Bottom Line
The stock has also started to move higher lately, adding 6.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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