Seaport Res Ptn Has Negative Outlook of LYV FY2024 Earnings

Live Nation Entertainment, Inc. (NYSE:LYV) – Analysts at Seaport Res Ptn reduced their FY2024 earnings estimates for shares of Live Nation Entertainment in a research report issued to clients and investors on Monday, January 6th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will post earnings of $0.66 per share for the year, down from their previous estimate of $0.72. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.04 per share.

Several other equities analysts have also issued reports on LYV. Guggenheim increased their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Roth Mkm raised their price objective on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Macquarie lifted their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Benchmark upped their price objective on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Trading Down 0.2 %

LYV opened at $129.26 on Tuesday. Live Nation Entertainment has a 52 week low of $86.67 and a 52 week high of $141.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The business has a fifty day simple moving average of $131.42 and a 200-day simple moving average of $111.10. The firm has a market cap of $30.03 billion, a P/E ratio of 137.51, a P/E/G ratio of 3.68 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same period in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LYV. Select Equity Group L.P. boosted its holdings in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Live Nation Entertainment by 1.8% in the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after acquiring an additional 155,920 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Live Nation Entertainment by 1.2% during the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after purchasing an additional 87,032 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after purchasing an additional 321,832 shares in the last quarter. Finally, D1 Capital Partners L.P. lifted its holdings in shares of Live Nation Entertainment by 44.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after purchasing an additional 1,093,000 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

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.