Zacks Research Equities Analysts Reduce Earnings Estimates for Live Nation Entertainment, Inc. (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYVFree Report) – Zacks Research lowered their Q1 2024 EPS estimates for shares of Live Nation Entertainment in a research note issued on Wednesday, March 20th. Zacks Research analyst R. Department now expects that the company will earn ($0.13) per share for the quarter, down from their prior estimate of ($0.12). The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.63 per share.

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

LYV has been the subject of a number of other research reports. Morgan Stanley raised their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Oppenheimer upped their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price target on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Rosenblatt Securities raised their price target on Live Nation Entertainment from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, Roth Mkm upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $114.00 in a report on Friday, January 12th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.40.

Get Our Latest Report on Live Nation Entertainment

Live Nation Entertainment Trading Up 2.2 %

Shares of LYV stock opened at $106.69 on Friday. Live Nation Entertainment has a twelve month low of $64.25 and a twelve month high of $107.01. The stock has a market cap of $24.62 billion, a price-to-earnings ratio of 80.22 and a beta of 1.30. The company’s 50-day moving average price is $94.00 and its 200-day moving average price is $88.58. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30.

Institutional Investors Weigh In On Live Nation Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mango Five Family Inc. acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at about $25,000. Providence Capital Advisors LLC increased its holdings in shares of Live Nation Entertainment by 6,674.2% in the first quarter. Providence Capital Advisors LLC now owns 2,100 shares of the company’s stock valued at $30,000 after purchasing an additional 2,069 shares during the period. Financial Management Professionals Inc. purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at about $31,000. Creative Financial Designs Inc. ADV lifted its position in Live Nation Entertainment by 148.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Finally, Raleigh Capital Management Inc. purchased a new stake in Live Nation Entertainment in the 3rd quarter valued at approximately $33,000. 70.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s 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 sale, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.85% of the company’s stock.

Live Nation Entertainment Company Profile

(Get Free Report)

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.

See Also

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

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