Jefferies Financial Group Research Analysts Lower Earnings Estimates for Live Nation Entertainment, Inc. (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) – Analysts at Jefferies Financial Group reduced their Q1 2023 earnings per share estimates for shares of Live Nation Entertainment in a research report issued to clients and investors on Tuesday, February 28th. Jefferies Financial Group analyst D. Katz now expects that the company will earn ($0.53) per share for the quarter, down from their prior estimate of ($0.33). The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.07 per share. Jefferies Financial Group also issued estimates for Live Nation Entertainment’s Q2 2023 earnings at $0.52 EPS, Q3 2023 earnings at $1.06 EPS, Q4 2023 earnings at ($0.89) EPS, FY2023 earnings at $0.15 EPS and FY2024 earnings at $1.94 EPS.

LYV has been the topic of a number of other reports. Morgan Stanley cut their target price on Live Nation Entertainment from $95.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 30th. The Goldman Sachs Group cut their target price on Live Nation Entertainment from $130.00 to $112.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Rosenblatt Securities increased their target price on Live Nation Entertainment from $101.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Redburn Partners began coverage on Live Nation Entertainment in a report on Tuesday, November 22nd. They issued a “neutral” rating on the stock. Finally, Citigroup upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and cut their target price for the stock from $90.00 to $82.00 in a report on Monday, November 28th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.11.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $72.97 on Friday. The stock has a market capitalization of $16.90 billion, a price-to-earnings ratio of 128.02 and a beta of 1.31. Live Nation Entertainment has a 52-week low of $65.05 and a 52-week high of $121.28. The stock’s 50 day moving average price is $75.08 and its two-hundred day moving average price is $77.89. The company has a debt-to-equity ratio of 56.33, a quick ratio of 0.98 and a current ratio of 0.98.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently made changes to their positions in LYV. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Live Nation Entertainment by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,075 shares of the company’s stock valued at $2,126,000 after purchasing an additional 1,120 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Live Nation Entertainment by 4.3% during the 1st quarter. Raymond James Trust N.A. now owns 3,139 shares of the company’s stock valued at $369,000 after acquiring an additional 130 shares during the last quarter. Cibc World Market Inc. bought a new stake in shares of Live Nation Entertainment during the 1st quarter valued at about $421,000. Vontobel Holding Ltd. boosted its position in shares of Live Nation Entertainment by 31.0% during the 1st quarter. Vontobel Holding Ltd. now owns 2,362 shares of the company’s stock valued at $279,000 after acquiring an additional 559 shares during the last quarter. Finally, Prudential PLC bought a new stake in shares of Live Nation Entertainment during the 1st quarter valued at about $294,000. 69.90% of the stock is owned by hedge funds and other institutional investors.

About Live Nation Entertainment

(Get Rating)

Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.