Live Nation Entertainment, Inc. (NYSE:LYV) Expected to Earn Q3 2024 Earnings of $1.60 Per Share

Live Nation Entertainment, Inc. (NYSE:LYV) – Zacks Research boosted their Q3 2024 earnings per share estimates for Live Nation Entertainment in a research report issued on Wednesday, September 11th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $1.60 for the quarter, up from their prior estimate of $1.58. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.21 per share. Zacks Research also issued estimates for Live Nation Entertainment’s Q4 2024 earnings at ($1.07) EPS, Q2 2025 earnings at $1.03 EPS, Q3 2025 earnings at $1.75 EPS, FY2025 earnings at $1.96 EPS, Q2 2026 earnings at $1.11 EPS and FY2026 earnings at $2.38 EPS.

A number of other research analysts have also weighed in on LYV. Northcoast Research lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Roth Mkm reiterated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a report on Friday, May 24th. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Bank of America started coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Benchmark reiterated a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.46.

Live Nation Entertainment Stock Up 1.6 %

LYV stock opened at $98.85 on Friday. Live Nation Entertainment has a twelve month low of $76.48 and a twelve month high of $107.24. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The stock’s 50 day moving average is $94.89 and its 200-day moving average is $95.93. The firm has a market capitalization of $22.71 billion, a PE ratio of 94.14, a P/E/G ratio of 2.29 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the business posted $1.02 EPS. The company’s revenue was up 7.0% on a year-over-year basis.

Insider Activity

In other news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the sale, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock valued at $17,238,181 in the last ninety days. 2.85% of the stock is currently owned by company insiders.

Institutional Trading of Live Nation Entertainment

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Live Nation Entertainment by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after purchasing an additional 110,097 shares during the period. Select Equity Group L.P. lifted its stake in Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Live Nation Entertainment by 1.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after buying an additional 155,920 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Live Nation Entertainment by 12.0% in the 1st quarter. William Blair Investment Management LLC now owns 3,633,791 shares of the company’s stock valued at $384,346,000 after acquiring an additional 388,980 shares during the last quarter. Finally, D1 Capital Partners L.P. raised its holdings in Live Nation Entertainment by 44.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after acquiring an additional 1,093,000 shares during the last quarter. Hedge funds and other 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.