Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) – Investment analysts at Zacks Research increased their Q1 2024 earnings estimates for shares of Live Nation Entertainment in a research note issued to investors on Tuesday, February 6th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of ($0.12) for the quarter, up from their previous forecast of ($0.13). The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.48 per share. Zacks Research also issued estimates for Live Nation Entertainment’s FY2024 earnings at $2.30 EPS and FY2025 earnings at $2.63 EPS.
LYV has been the subject of a number of other reports. Morgan Stanley raised shares of Live Nation Entertainment from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $100.00 to $110.00 in a report on Thursday, December 14th. Roth Mkm upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $92.00 to $114.00 in a report on Friday, January 12th. Evercore ISI upgraded shares of Live Nation Entertainment from an “in-line” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Thursday, October 26th. Roth Capital upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Finally, Guggenheim increased their price objective on shares of Live Nation Entertainment from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.91.
Live Nation Entertainment Stock Down 1.3 %
Live Nation Entertainment stock opened at $87.66 on Thursday. The firm has a 50 day simple moving average of $89.57 and a 200 day simple moving average of $86.55. The firm has a market capitalization of $20.19 billion, a price-to-earnings ratio of 60.04 and a beta of 1.30. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 7.57. Live Nation Entertainment has a 1-year low of $64.25 and a 1-year high of $101.74.
Institutional Investors Weigh In On Live Nation Entertainment
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Findlay Park Partners LLP purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth approximately $179,689,000. Goldman Sachs Group Inc. raised its position in Live Nation Entertainment by 96.9% during the first quarter. Goldman Sachs Group Inc. now owns 3,698,063 shares of the company’s stock worth $435,041,000 after acquiring an additional 1,819,841 shares during the period. Norges Bank acquired a new position in Live Nation Entertainment during the fourth quarter worth $115,328,000. Cantillon Capital Management LLC raised its position in Live Nation Entertainment by 146.6% during the fourth quarter. Cantillon Capital Management LLC now owns 2,746,801 shares of the company’s stock worth $257,101,000 after acquiring an additional 1,632,749 shares during the period. Finally, Jericho Capital Asset Management L.P. purchased a new stake in shares of Live Nation Entertainment during the second quarter worth $125,185,000. Institutional investors own 70.95% of the company’s stock.
Insider Activity at Live Nation Entertainment
In other Live Nation Entertainment news, CFO Joe Berchtold sold 119,100 shares of Live Nation Entertainment stock in a transaction on Friday, December 15th. The shares were sold at an average price of $92.91, for a total value of $11,065,581.00. Following the completion of the transaction, the chief financial officer now directly owns 442,107 shares of the company’s stock, valued at approximately $41,076,161.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.85% of the stock is currently owned by corporate insiders.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.
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