FY2024 EPS Estimates for Live Nation Entertainment, Inc. Cut by Analyst (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Roth Capital cut their FY2024 EPS estimates for shares of Live Nation Entertainment in a report released on Wednesday, July 31st. Roth Capital analyst E. Handler now anticipates that the company will post earnings per share of $1.18 for the year, down from their previous forecast of $1.61. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.21 per share. Roth Capital also issued estimates for Live Nation Entertainment’s Q4 2024 earnings at ($1.45) EPS, FY2025 earnings at $0.98 EPS and FY2026 earnings at $1.29 EPS.

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

LYV has been the topic of a number of other research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. TD Cowen reaffirmed a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Rosenblatt Securities lifted their price target on shares of Live Nation Entertainment from $122.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Redburn Atlantic raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their price target for the company from $114.00 to $115.00 in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.17.

Live Nation Entertainment Stock Up 2.2 %

Shares of NYSE LYV opened at $90.02 on Monday. The stock has a market cap of $20.68 billion, a P/E ratio of 85.73, a P/E/G ratio of 2.18 and a beta of 1.34. The firm has a 50 day moving average price of $93.21 and a 200 day moving average price of $94.99. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment has a 52-week low of $76.48 and a 52-week high of $107.24.

Hedge Funds Weigh In On Live Nation Entertainment

Several large investors have recently bought and sold shares of the stock. Trium Capital LLP lifted its stake in Live Nation Entertainment by 3.3% during the 2nd quarter. Trium Capital LLP now owns 29,981 shares of the company’s stock valued at $2,810,000 after acquiring an additional 958 shares in the last quarter. Prestige Wealth Management Group LLC lifted its stake in Live Nation Entertainment by 11.2% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 2,136 shares of the company’s stock valued at $200,000 after acquiring an additional 215 shares in the last quarter. Acadian Asset Management LLC bought a new position in Live Nation Entertainment during the 2nd quarter valued at $419,000. North Star Asset Management Inc. lifted its stake in Live Nation Entertainment by 8.7% during the 2nd quarter. North Star Asset Management Inc. now owns 75,631 shares of the company’s stock valued at $7,090,000 after acquiring an additional 6,074 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Live Nation Entertainment by 22.0% during the 2nd quarter. National Bank of Canada FI now owns 43,424 shares of the company’s stock valued at $4,115,000 after acquiring an additional 7,819 shares in the last quarter. 74.52% of the stock is currently 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.