FY2024 Earnings Forecast for Live Nation Entertainment, Inc. (NYSE:LYV) Issued By Zacks Research

Live Nation Entertainment, Inc. (NYSE:LYV) – Equities research analysts at Zacks Research lowered their FY2024 earnings estimates for shares of Live Nation Entertainment in a report released on Wednesday, September 11th. Zacks Research analyst R. Department now anticipates that the company will post earnings per share of $1.04 for the year, down from their prior estimate of $1.05. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.19 per share.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 EPS.

A number of other brokerages have also commented on LYV. Benchmark reissued a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research note on Tuesday. Oppenheimer upped their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Macquarie reiterated an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Northcoast Research downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Finally, Roth Mkm reiterated a “buy” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $119.46.

Live Nation Entertainment Trading Up 1.3 %

Shares of LYV stock opened at $97.33 on Thursday. Live Nation Entertainment has a twelve month low of $76.48 and a twelve month high of $107.24. The stock’s fifty day simple moving average is $94.77 and its 200 day simple moving average is $95.85. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a market capitalization of $22.36 billion, a P/E ratio of 92.70, a P/E/G ratio of 2.21 and a beta of 1.34.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently modified their holdings of LYV. Sanctuary Advisors LLC purchased a new stake in shares of Live Nation Entertainment in the second quarter valued at about $4,999,000. Coronation Fund Managers Ltd. increased its holdings in Live Nation Entertainment by 48.3% during the second quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock worth $4,798,000 after buying an additional 16,668 shares during the last quarter. Quarry LP raised its position in Live Nation Entertainment by 119.7% in the second quarter. Quarry LP now owns 1,714 shares of the company’s stock worth $161,000 after acquiring an additional 934 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Live Nation Entertainment by 74.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,755 shares of the company’s stock worth $446,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of Live Nation Entertainment by 1.2% in the 2nd quarter. Creative Planning now owns 28,501 shares of the company’s stock worth $2,672,000 after purchasing an additional 326 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now owns 59,789 shares in the company, valued at approximately $5,626,742.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now owns 59,789 shares in the company, valued at approximately $5,626,742.79. The disclosure for this sale can be found here. Insiders sold a total of 13,841 shares of company stock valued at $1,325,279 in the last quarter. 2.85% of the stock is currently owned by company insiders.

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.