Q1 2024 Earnings Forecast for Live Nation Entertainment, Inc. Issued By Zacks Research (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYVFree Report) – Analysts at Zacks Research raised their Q1 2024 earnings per share (EPS) 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 of ($0.12) per share for the quarter, up from their prior 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.

Other research analysts also recently issued research reports about the company. Roth Mkm upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their price target for the company from $92.00 to $114.00 in a report on Friday, January 12th. Evercore ISI raised Live Nation Entertainment from an “in-line” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Thursday, October 26th. Roth Capital raised Live Nation Entertainment from a “neutral” rating to a “buy” rating in a report on Thursday, January 11th. Morgan Stanley raised Live Nation Entertainment from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $100.00 to $110.00 in a report on Thursday, December 14th. Finally, Guggenheim increased their price target on Live Nation Entertainment from $124.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $109.91.

Check Out Our Latest Stock Analysis on LYV

Live Nation Entertainment Stock Down 1.3 %

LYV opened at $87.66 on Thursday. The stock’s fifty day moving average is $89.57 and its 200-day moving average is $86.55. The company has a market capitalization of $20.19 billion, a PE ratio of 60.04 and a beta of 1.30. The company has a debt-to-equity ratio of 7.57, a quick ratio of 1.14 and a current ratio of 1.14. Live Nation Entertainment has a one year low of $64.25 and a one year high of $101.74.

Hedge Funds Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the company. Procyon Advisors LLC lifted its position in Live Nation Entertainment by 170.9% during the third quarter. Procyon Advisors LLC now owns 7,784 shares of the company’s stock valued at $646,000 after purchasing an additional 4,911 shares during the period. KBC Group NV grew its stake in shares of Live Nation Entertainment by 39.5% in the 2nd quarter. KBC Group NV now owns 84,808 shares of the company’s stock worth $7,727,000 after buying an additional 24,004 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Live Nation Entertainment by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,231 shares of the company’s stock worth $1,023,000 after buying an additional 200 shares in the last quarter. Kistler Tiffany Companies LLC lifted its holdings in shares of Live Nation Entertainment by 8.5% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 5,594 shares of the company’s stock worth $510,000 after acquiring an additional 436 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Live Nation Entertainment by 78.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,276,023 shares of the company’s stock worth $105,961,000 after acquiring an additional 561,384 shares during the last quarter. 70.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Joe Berchtold sold 119,100 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $92.91, for a total transaction of $11,065,581.00. Following the completion of the transaction, the chief financial officer now directly owns 442,107 shares in the company, valued at approximately $41,076,161.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.85% of the company’s stock.

About Live Nation Entertainment

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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.

See Also

Earnings History and Estimates for Live Nation Entertainment (NYSE:LYV)

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