Q2 2024 Earnings Estimate for Live Nation Entertainment, Inc. Issued By Seaport Res Ptn (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Stock analysts at Seaport Res Ptn reduced their Q2 2024 earnings per share estimates for Live Nation Entertainment in a research report issued on Thursday, May 2nd. Seaport Res Ptn analyst D. Joyce now anticipates that the company will post earnings per share of $1.03 for the quarter, down from their previous estimate of $1.06. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.63 per share. Seaport Res Ptn also issued estimates for Live Nation Entertainment’s FY2025 earnings at $1.87 EPS.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 85.50% and a net margin of 2.22%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the business posted ($0.25) EPS. The company’s revenue was up 21.5% on a year-over-year basis.

Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Roth Capital upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. Rosenblatt Securities lifted their price target on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Friday. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Finally, Roth Mkm reaffirmed a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $116.91.

Live Nation Entertainment Stock Up 7.2 %

Shares of NYSE:LYV opened at $94.66 on Monday. Live Nation Entertainment has a 1 year low of $66.38 and a 1 year high of $107.24. The business has a 50 day simple moving average of $98.60 and a two-hundred day simple moving average of $91.72. The firm has a market capitalization of $21.85 billion, a PE ratio of 90.15, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96.

Hedge Funds Weigh In On Live Nation Entertainment

A number of large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $248,139,000. Cantillon Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 146.6% during the fourth quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock valued at $257,101,000 after buying an additional 1,632,749 shares during the last quarter. Findlay Park Partners LLP grew its holdings in shares of Live Nation Entertainment by 55.1% during the third quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock valued at $254,060,000 after buying an additional 1,087,264 shares during the last quarter. Jericho Capital Asset Management L.P. grew its holdings in shares of Live Nation Entertainment by 52.8% during the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock valued at $174,384,000 after buying an additional 726,000 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Live Nation Entertainment by 104.2% during the fourth quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock valued at $112,268,000 after buying an additional 606,743 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.85% of the stock is currently owned by insiders.

Live Nation Entertainment Company Profile

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.