Wall Street analysts forecast that Live Nation (LYV) will report quarterly loss of -$1.01 per share in its upcoming release, pointing to a year-over-year decline of 280.4%. It is anticipated that revenues will amount to $6.08 billion, exhibiting an increase of 6.9% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Live Nation metrics that are commonly tracked and projected by analysts on Wall Street.
The average prediction of analysts places 'Revenue- Concerts' at $4.93 billion. The estimate indicates a change of +7.6% from the prior-year quarter.
The consensus estimate for 'Revenue- Sponsorship & Advertising' stands at $324.68 million. The estimate indicates a year-over-year change of +15.5%.
The consensus among analysts is that 'Revenue- Ticketing' will reach $847.21 million. The estimate indicates a change of +0.7% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Concerts - Estimated Attendance - Total' of 42.18 million. The estimate compares to the year-ago value of 39.12 million.
Based on the collective assessment of analysts, 'Ticketing - Total Fee-Bearing Number of Tickets Sold' should arrive at 96.32 million. The estimate compares to the year-ago value of 92.29 million.
Analysts predict that the 'Concerts - Estimated Events - Total' will reach 16.44 million. The estimate is in contrast to the year-ago figure of 15.97 million.
It is projected by analysts that the 'Concerts - Estimated Attendance - North America' will reach 20.93 million. Compared to the current estimate, the company reported 19.59 million in the same quarter of the previous year.
According to the collective judgment of analysts, 'Concerts - Estimated Events - International' should come in at 6.47 million. The estimate is in contrast to the year-ago figure of 6.13 million.
The combined assessment of analysts suggests that 'Concerts - Estimated Events - North America' will likely reach 10.01 million. Compared to the present estimate, the company reported 9.84 million in the same quarter last year.
Analysts' assessment points toward 'Concerts - Estimated Attendance - International' reaching 21.48 million. The estimate is in contrast to the year-ago figure of 19.54 million.
Analysts forecast 'Ticketing - Total Non-Fee-Bearing Number of Tickets Sold' to reach 83.70 million. The estimate is in contrast to the year-ago figure of 84.44 million.
Analysts expect 'Ticketing - Total Global Number of Tickets Sold' to come in at 179.36 million. Compared to the current estimate, the company reported 176.73 million in the same quarter of the previous year.
View all Key Company Metrics for Live Nation here>>>
Shares of Live Nation have experienced a change of +6.3% in the past month compared to the -2% move of the Zacks S&P 500 composite. With a Zacks Rank #5 (Strong Sell), LYV is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Live Nation Entertainment, Inc. (LYV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
