Here's why LiveNation lost $1.8B in market capitalization in just three days
lowered the 2020 EPS estimate by $0.05 but left rating and price target unchanged. Jefferies analysts left their estimates “largely unchanged” and their $84 price target untouched. The titles on some analysts’ reports say it all: “Doing What They Do” , “The Show Goes On” and “No Recession Fear Here” . Analysts had expected third-quarter earnings per share of $0.77, according to data compiled by Thomson Reuters. Live Nation had EPS of $0.74.
3) The concert business can be uneven from year to year: Live Nation had 30 more stadium concerts in 2018 than this year, but will again have more in 2020. , chief investment officer at Baskin Wealth Management, a Toronto-based firm with $1 billion under management. “There’s been a trend in the last few months with earnings: If you don’t beat the analysts’ expectations, for whatever that’s worth, you’re getting hammered,” Baskin says.
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