FY2024 EPS Estimates for Live Nation Entertainment, Inc. (NYSE:LYV) Reduced by Analyst

Live Nation Entertainment, Inc. (NYSE:LYV) – Research analysts at Roth Capital reduced their FY2024 EPS estimates for shares of Live Nation Entertainment in a research note issued to investors on Tuesday, April 23rd. Roth Capital analyst E. Handler now anticipates that the company will earn $2.02 per share for the year, down from their previous estimate of $2.06. Roth Capital has a “Buy” rating on the stock. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.63 per share. Roth Capital also issued estimates for Live Nation Entertainment’s FY2025 earnings at $1.90 EPS and FY2026 earnings at $2.46 EPS.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.72 billion.

Several other analysts also recently commented on the company. Morgan Stanley increased their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Rosenblatt Securities lowered their price objective on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. TD Cowen reissued a “buy” rating and issued a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Oppenheimer increased their price target on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research report 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 report on Tuesday. One equities research analyst has rated the stock with a hold rating and eleven have assigned 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 $116.30.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $88.49 on Thursday. The company has a market cap of $20.42 billion, a PE ratio of 66.53 and a beta of 1.30. Live Nation Entertainment has a 52 week low of $64.96 and a 52 week high of $107.24. The business has a 50 day moving average price of $98.94 and a 200-day moving average price of $91.50. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Large investors have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV boosted its stake in Live Nation Entertainment by 148.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock valued at $31,000 after buying an additional 200 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Live Nation Entertainment during the third quarter valued at about $33,000. Rise Advisors LLC raised its position in Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after purchasing an additional 159 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in Live Nation Entertainment by 9,800.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock valued at $41,000 after purchasing an additional 490 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after purchasing an additional 119 shares in the last quarter. Institutional investors 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.