Equities Analysts Offer Predictions for Live Nation Entertainment, Inc.’s FY2024 Earnings (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Equities research analysts at Roth Capital cut their FY2024 earnings per share (EPS) estimates for Live Nation Entertainment in a note issued to investors on Tuesday, April 23rd. Roth Capital analyst E. Handler now anticipates that the company will earn $2.02 per share for the year, down from their previous estimate of $2.06. Roth Capital currently has a “Buy” rating on the stock. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.62 per share. Roth Capital also issued estimates for Live Nation Entertainment’s FY2025 earnings at $1.90 EPS and FY2026 earnings at $2.46 EPS.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion.

Several other research analysts have also weighed in on the company. Oppenheimer upped their price target on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. Morgan Stanley upped their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Rosenblatt Securities decreased their price target on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a report on Thursday, April 11th. TD Cowen reiterated 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, Roth Mkm reiterated a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research report on Tuesday. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.30.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $89.83 on Thursday. The company’s fifty day moving average is $98.87 and its two-hundred day moving average is $91.52. The company has a market cap of $20.73 billion, a P/E ratio of 67.54 and a beta of 1.30. Live Nation Entertainment has a 12-month low of $65.20 and a 12-month high of $107.24. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30.

Institutional Investors Weigh In On Live Nation Entertainment

Large investors have recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. acquired a new stake in shares of Live Nation Entertainment in the first quarter worth $32,000. Checchi Capital Advisers LLC lifted its position in Live Nation Entertainment by 2.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 9,359 shares of the company’s stock worth $990,000 after acquiring an additional 218 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after acquiring an additional 119 shares during the period. New York State Teachers Retirement System grew its position in shares of Live Nation Entertainment by 1.4% in the first quarter. New York State Teachers Retirement System now owns 140,228 shares of the company’s stock valued at $14,832,000 after purchasing an additional 1,971 shares during the last quarter. Finally, Equitable Trust Co. bought a new position in shares of Live Nation Entertainment in the first quarter worth about $3,240,000. Institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.