Analysts Set Expectations for Live Nation Entertainment, Inc.’s Q2 2024 Earnings (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Investment analysts at Seaport Res Ptn dropped their Q2 2024 EPS estimates for shares of Live Nation Entertainment in a research note issued to investors on Thursday, May 2nd. Seaport Res Ptn analyst D. Joyce now expects that the company will earn $1.03 per share for the quarter, down from their previous estimate of $1.06. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.63 per share. Seaport Res Ptn also issued estimates for Live Nation Entertainment’s FY2025 earnings at $1.87 EPS.

A number of other research analysts also recently commented on the company. Roth Mkm reiterated a “buy” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. TD Cowen restated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Rosenblatt Securities raised their price target on Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Live Nation Entertainment Trading Up 0.5 %

Shares of LYV opened at $96.35 on Monday. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment has a 1 year low of $76.48 and a 1 year high of $107.24. The company has a 50 day simple moving average of $98.67 and a two-hundred day simple moving average of $91.89. The firm has a market cap of $22.30 billion, a P/E ratio of 91.32, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the business earned ($0.25) earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV boosted its holdings in Live Nation Entertainment by 148.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in Live Nation Entertainment in the first quarter worth about $32,000. Raleigh Capital Management Inc. acquired a new stake in Live Nation Entertainment in the third quarter worth about $33,000. Rise Advisors LLC boosted its holdings in Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after acquiring an additional 159 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its holdings in shares of 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 worth $41,000 after purchasing an additional 490 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the 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 sale, the director now owns 59,374 shares in the company, valued at $5,967,087. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.85% 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.