Q2 2024 EPS Estimates for Live Nation Entertainment, Inc. (NYSE:LYV) Lowered by Roth Capital

Live Nation Entertainment, Inc. (NYSE:LYV) – Research analysts at Roth Capital reduced their Q2 2024 EPS estimates for shares of Live Nation Entertainment in a report issued on Friday, May 3rd. Roth Capital analyst E. Handler now forecasts that the company will post earnings of $1.14 per share for the quarter, down from their previous estimate of $1.20. Roth Capital has a “Buy” rating on the stock. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.63 per share. Roth Capital also issued estimates for Live Nation Entertainment’s Q3 2024 earnings at $2.19 EPS.

A number of other research firms have also issued reports on LYV. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Rosenblatt Securities boosted their price target on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Oppenheimer boosted their price target 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Monday. Finally, TD Cowen reissued a “buy” rating and set a $108.00 price target 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 twelve have assigned a buy rating to the stock. According to MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $117.00.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $96.35 on Monday. Live Nation Entertainment has a 52-week low of $76.48 and a 52-week high of $107.24. The firm has a market capitalization of $22.30 billion, a price-to-earnings ratio of 91.32, a PEG ratio of 1.92 and a beta of 1.34. The company has a fifty day simple moving average of $98.67 and a 200-day simple moving average of $91.89. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the company earned ($0.25) EPS. Live Nation Entertainment’s quarterly revenue was up 21.5% compared to the same quarter last year.

Insider Transactions at Live Nation Entertainment

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 owns 59,374 shares of the company’s stock, valued at $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.85% of the company’s stock.

Institutional Trading of Live Nation Entertainment

Hedge funds have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV lifted its position in shares of Live Nation Entertainment by 148.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Live Nation Entertainment during the first quarter worth approximately $32,000. Raleigh Capital Management Inc. purchased a new stake in shares of Live Nation Entertainment during the third quarter worth approximately $33,000. Rise Advisors LLC increased its stake in shares of Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after buying an additional 159 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Live Nation Entertainment by 9,800.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock worth $41,000 after buying an additional 490 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

About Live Nation Entertainment

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.