In its upcoming report, Live Nation (LYV) is predicted by Wall Street analysts to post quarterly loss of $0.32 per share, reflecting an increase of 39.6% compared to the same period last year. Revenues are forecasted to be $3.49 billion, representing a year-over-year decrease of 8.3%.
The consensus EPS estimate for the quarter has been revised 2.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision 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.
Bearing this in mind, let's now explore the average estimates of specific Live Nation metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'Revenue- Concerts' stands at $2.51 billion. The estimate indicates a change of -12.7% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Sponsorship & Advertising' of $216.47 million. The estimate indicates a year-over-year change of +2.4%.
The combined assessment of analysts suggests that 'Revenue- Ticketing' will likely reach $775.90 million. The estimate indicates a year-over-year change of +7.3%.
Analysts predict that the 'Concerts - Estimated fans - Total' will reach 23.37 million. The estimate compares to the year-ago value of 22.93 million.
Analysts' assessment points toward 'Ticketing - Estimated number of fee-bearing tickets' reaching 79.59 million. The estimate is in contrast to the year-ago figure of 76.58 million.
According to the collective judgment of analysts, 'Concerts - Estimated events - Total' should come in at 11.75 million. The estimate is in contrast to the year-ago figure of 11.2 million.
The consensus among analysts is that 'Concerts - Estimated fans - North America' will reach 11.15 million. Compared to the present estimate, the company reported 10.89 million in the same quarter last year.
The average prediction of analysts places 'Concerts - Estimated events - International' at 4.3 million. The estimate is in contrast to the year-ago figure of 4.03 million.
Analysts forecast 'Concerts - Estimated events - North America' to reach 7.51 million. Compared to the present estimate, the company reported 7.18 million in the same quarter last year.
Based on the collective assessment of analysts, 'Concerts - Estimated fans - International' should arrive at 12.57 million. Compared to the present estimate, the company reported 12.04 million in the same quarter last year.
Analysts expect 'Ticketing - Estimated number of non-fee-bearing tickets' to come in at 84.7 million. Compared to the current estimate, the company reported 78.43 million in the same quarter of the previous year.
It is projected by analysts that the 'Ticketing - Total estimated tickets sold' will reach 164.34 million. The estimate is in contrast to the year-ago figure of 155.01 million.
View all Key Company Metrics for Live Nation here>>>
Shares of Live Nation have experienced a change of +2.1% in the past month compared to the -0.8% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), LYV is expected to mirror the overall market performance 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
