Live Nation Entertainment, Inc. Expected to Post Q2 2024 Earnings of $1.14 Per Share (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Investment analysts at Roth Capital cut their Q2 2024 earnings per share (EPS) estimates for shares of Live Nation Entertainment in a report issued on Friday, May 3rd. Roth Capital analyst E. Handler now expects that the company will post earnings of $1.14 per share for the quarter, down from their prior estimate of $1.20. Roth Capital currently 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 Q3 2024 earnings at $2.19 EPS.

A number of other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Live Nation Entertainment in a research note on Tuesday, April 30th. They set a “buy” rating and a $120.00 price objective for the company. Morgan Stanley upped 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. TD Cowen restated a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Rosenblatt Securities increased their price target on Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. One investment 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, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $116.91.

Live Nation Entertainment Price Performance

Shares of LYV opened at $94.66 on Monday. The company has a market cap of $21.85 billion, a P/E ratio of 90.15, a PEG ratio of 1.92 and a beta of 1.34. The stock has a fifty day moving average price of $98.60 and a 200 day moving average price of $91.72. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment has a 12 month low of $66.38 and a 12 month high of $107.24.

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

Insider Activity

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 value of $100,600.50. Following the completion of the sale, the director now owns 59,374 shares in the company, valued at $5,967,087. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.85% of the company’s stock.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds have recently modified their holdings of the stock. DAVENPORT & Co LLC lifted its holdings in shares of Live Nation Entertainment by 8.8% during the first quarter. DAVENPORT & Co LLC now owns 1,241,525 shares of the company’s stock valued at $131,762,000 after purchasing an additional 100,253 shares during the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Live Nation Entertainment by 6.4% during the first quarter. Coronation Fund Managers Ltd. now owns 34,519 shares of the company’s stock valued at $3,651,000 after purchasing an additional 2,089 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at $1,454,000. FORA Capital LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at $256,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Live Nation Entertainment by 15.8% during the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock valued at $146,567,000 after purchasing an additional 187,839 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

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.