Live Nation Entertainment, Inc. (NYSE:LYV) to Post FY2024 Earnings of $0.94 Per Share, Seaport Res Ptn Forecasts

Live Nation Entertainment, Inc. (NYSE:LYV) – Equities research analysts at Seaport Res Ptn raised their FY2024 earnings estimates for shares of Live Nation Entertainment in a research report issued on Sunday, June 30th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn $0.94 per share for the year, up from their prior forecast of $0.88. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.37 per share. Seaport Res Ptn also issued estimates for Live Nation Entertainment’s Q4 2024 earnings at ($1.65) EPS, Q4 2025 earnings at ($1.59) EPS, FY2025 earnings at $1.91 EPS, FY2026 earnings at $2.29 EPS and FY2027 earnings at $2.73 EPS.

Several other research analysts have also recently commented on LYV. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 target price on shares of Live Nation Entertainment in a report on Tuesday, June 25th. Rosenblatt Securities lifted their price objective 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, May 3rd. Morgan Stanley reissued an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. 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. Finally, Redburn Atlantic upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and raised their target price for the company from $114.00 to $115.00 in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $115.58.

Live Nation Entertainment Stock Down 2.0 %

Shares of LYV opened at $94.81 on Wednesday. Live Nation Entertainment has a 12 month low of $76.48 and a 12 month high of $107.24. The firm’s 50 day moving average is $93.37 and its 200-day moving average is $94.45. The stock has a market capitalization of $21.78 billion, a PE ratio of 90.30, a P/E/G ratio of 1.92 and a beta of 1.34. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83.

Live Nation Entertainment (NYSE:LYV) last announced its 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 90.67% and a net margin of 2.22%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business posted ($0.25) earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of hedge funds have recently bought and sold shares of LYV. Norges Bank bought a new position in Live Nation Entertainment during the fourth quarter worth $248,139,000. Cantillon Capital Management LLC increased its position 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 worth $257,101,000 after acquiring an additional 1,632,749 shares in the last quarter. Jericho Capital Asset Management L.P. increased its position 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 worth $174,384,000 after acquiring an additional 726,000 shares in the last quarter. Nordea Investment Management AB increased its position 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 worth $112,268,000 after acquiring an additional 606,743 shares in the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $44,340,000. Institutional investors own 74.52% of the company’s stock.

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.