Research Analysts Set Expectations for LYV FY2024 Earnings

Live Nation Entertainment, Inc. (NYSE:LYV) – Investment analysts at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for shares of Live Nation Entertainment in a report issued on Monday, January 6th. Seaport Res Ptn analyst D. Joyce now expects that the company will post earnings of $0.66 per share for the year, down from their prior forecast of $0.72. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.04 per share.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. TD Cowen raised their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Stock Up 0.4 %

Shares of NYSE LYV opened at $130.19 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market cap of $30.25 billion, a PE ratio of 138.50, a P/E/G ratio of 3.68 and a beta of 1.38. The company’s fifty day simple moving average is $131.89 and its 200 day simple moving average is $111.49. Live Nation Entertainment has a 12-month low of $86.67 and a 12-month high of $141.18.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.78 earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Select Equity Group L.P. boosted its position in Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. D1 Capital Partners L.P. raised its holdings in shares of 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 in the last quarter. ValueAct Holdings L.P. purchased a new position in shares of Live Nation Entertainment during the third quarter worth about $111,094,000. PointState Capital LP bought a new position in shares of Live Nation Entertainment in the third quarter worth approximately $102,762,000. Finally, Vulcan Value Partners LLC raised its stake in Live Nation Entertainment by 46.5% in the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after purchasing an additional 855,197 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

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.