Q1 2024 EPS Estimates for Live Nation Entertainment, Inc. (NYSE:LYV) Decreased by Roth Capital

Live Nation Entertainment, Inc. (NYSE:LYV) – Analysts at Roth Capital decreased their Q1 2024 earnings per share (EPS) estimates for Live Nation Entertainment in a research note issued on Tuesday, April 23rd. Roth Capital analyst E. Handler now forecasts that the company will earn ($0.26) per share for the quarter, down from their prior estimate of ($0.24). Roth Capital currently has a “Buy” rating on the stock. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.62 per share. Roth Capital also issued estimates for Live Nation Entertainment’s Q2 2024 earnings at $1.20 EPS and Q4 2024 earnings at ($1.34) EPS.

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

Several other equities analysts also recently issued reports on the company. Oppenheimer upped their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. Roth Mkm reissued a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 23rd. Rosenblatt Securities cut their target price on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Morgan Stanley upped their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, TD Cowen reissued a “buy” rating and issued a $108.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.30.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $89.83 on Friday. The business’s fifty day simple moving average is $98.87 and its 200-day simple moving average is $91.56. The company has a market cap of $20.73 billion, a PE ratio of 67.54 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. Live Nation Entertainment has a 12-month low of $65.20 and a 12-month high of $107.24.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the sale, the director now directly owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds have recently modified their holdings of the company. CWM LLC boosted its holdings in Live Nation Entertainment by 14.5% in the 3rd quarter. CWM LLC now owns 1,948 shares of the company’s stock worth $162,000 after buying an additional 246 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Live Nation Entertainment in the 3rd quarter worth about $236,000. Caprock Group LLC acquired a new stake in Live Nation Entertainment in the 3rd quarter worth about $221,000. Oak Thistle LLC acquired a new stake in Live Nation Entertainment in the 3rd quarter worth about $866,000. Finally, Czech National Bank boosted its holdings in Live Nation Entertainment by 45.4% in the 3rd quarter. Czech National Bank now owns 24,780 shares of the company’s stock worth $2,058,000 after buying an additional 7,743 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other 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.