FY2024 Earnings Forecast for LYV Issued By Seaport Res Ptn

Live Nation Entertainment, Inc. (NYSE:LYV) – Investment analysts at Seaport Res Ptn reduced their FY2024 EPS estimates for Live Nation Entertainment in a research report issued to clients and investors on Tuesday, November 12th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will earn $0.72 per share for the year, down from their previous estimate of $1.10. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.11 per share. Seaport Res Ptn also issued estimates for Live Nation Entertainment’s Q4 2024 earnings at ($1.51) EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $1.54 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at ($1.28) EPS and FY2026 earnings at $1.87 EPS.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. Live Nation Entertainment’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS.

Other equities analysts have also recently issued reports about the stock. Evercore ISI lifted their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday. TD Cowen lifted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Bank of America boosted their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday. Finally, StockNews.com lowered Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $138.57.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $129.00 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. The company has a market capitalization of $29.97 billion, a P/E ratio of 137.23, a P/E/G ratio of 3.27 and a beta of 1.33. Live Nation Entertainment has a 12 month low of $81.38 and a 12 month high of $130.83. The stock has a 50 day moving average of $112.78 and a 200-day moving average of $100.62.

Insider Buying and Selling

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. This represents a 28.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 175,500 shares of company stock valued at $17,097,016 over the last quarter. 2.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LYV. Select Equity Group L.P. grew its holdings in shares of Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. grew its stake in shares of Live Nation Entertainment by 44.6% during the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after buying an additional 1,093,000 shares during the last quarter. ValueAct Holdings L.P. bought a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $111,094,000. PointState Capital LP acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $102,762,000. Finally, Vulcan Value Partners LLC increased its holdings in Live Nation Entertainment by 46.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after purchasing an additional 855,197 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.