What is Seaport Res Ptn’s Forecast for LYV FY2024 Earnings?

Live Nation Entertainment, Inc. (NYSE:LYV) – Equities researchers at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for Live Nation Entertainment in a research note issued to investors on Tuesday, November 12th. Seaport Res Ptn analyst D. Joyce now forecasts that the company will earn $0.72 per share for the year, down from their previous forecast of $1.10. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.18 per share. Seaport Res Ptn also issued estimates for Live Nation Entertainment’s Q4 2024 earnings at ($1.51) EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $1.54 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at ($1.28) EPS and FY2026 earnings at $1.87 EPS.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. The company 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 business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 earnings per share.

Several other analysts also recently weighed in on LYV. Bank of America initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price on the stock. Evercore ISI upped their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday. Benchmark upped their target price on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen upped their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Oppenheimer raised their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $135.71.

Live Nation Entertainment Stock Down 2.1 %

Shares of NYSE:LYV opened at $126.98 on Thursday. The firm has a fifty day moving average price of $111.36 and a 200 day moving average price of $100.15. Live Nation Entertainment has a 1-year low of $81.38 and a 1-year high of $130.76. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. The stock has a market cap of $29.25 billion, a P/E ratio of 135.09, a P/E/G ratio of 3.15 and a beta of 1.33.

Insider Activity

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LYV. Brooklyn Investment Group acquired a new position in Live Nation Entertainment during the 3rd quarter worth $31,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the last quarter. UMB Bank n.a. increased its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after purchasing an additional 176 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $41,000. Finally, Family Firm Inc. acquired a new position in Live Nation Entertainment in the second quarter worth $42,000. 74.52% of the stock is owned by institutional investors.

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.