Q2 2024 EPS Estimates for Live Nation Entertainment, Inc. Cut by Roth Capital (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Analysts at Roth Capital decreased their Q2 2024 earnings estimates for Live Nation Entertainment in a report issued on Friday, May 3rd. Roth Capital analyst E. Handler now forecasts that the company will post earnings per share of $1.14 for the quarter, down from their prior estimate of $1.20. Roth Capital has a “Buy” rating on the stock. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.63 per share. Roth Capital also issued estimates for Live Nation Entertainment’s Q3 2024 earnings at $2.19 EPS.

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

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

Live Nation Entertainment Stock Up 1.3 %

Shares of NYSE LYV opened at $95.89 on Monday. The business has a 50-day simple moving average of $98.60 and a two-hundred day simple moving average of $91.79. The company has a market cap of $22.19 billion, a P/E ratio of 91.39, a P/E/G ratio of 1.92 and a beta of 1.34. Live Nation Entertainment has a 52 week low of $76.48 and a 52 week 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 10.83.

Institutional Investors Weigh In On Live Nation Entertainment

Several institutional investors have recently added to or reduced their stakes in LYV. Czech National Bank increased its position in shares of Live Nation Entertainment by 0.5% in the first quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after acquiring an additional 115 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Live Nation Entertainment by 0.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company’s stock worth $2,324,000 after purchasing an additional 117 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after purchasing an additional 119 shares during the period. Hohimer Wealth Management LLC raised its position in Live Nation Entertainment by 1.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock valued at $956,000 after purchasing an additional 123 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Live Nation Entertainment by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company’s stock worth $1,100,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 59,374 shares in the company, valued at $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.85% of the stock is currently owned by company insiders.

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.