Seaport Res Ptn Has Bearish Forecast for LYV FY2024 Earnings

Live Nation Entertainment, Inc. (NYSE:LYV) – Analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for Live Nation Entertainment in a research report issued 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.

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

LYV has been the subject of several other research reports. Bank of America increased their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Citigroup raised their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Finally, Roth Mkm lifted their price objective on Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Trading Up 0.4 %

Shares of LYV opened at $130.19 on Tuesday. The firm has a fifty day simple moving average of $131.89 and a two-hundred day simple moving average of $111.49. Live Nation Entertainment has a twelve month low of $86.67 and a twelve month high of $141.18. The stock has a market capitalization of $30.25 billion, a P/E ratio of 138.50, a PEG ratio of 3.68 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LYV. Select Equity Group L.P. raised its holdings in shares of Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. raised its stake in Live Nation Entertainment by 44.6% during 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 buying an additional 1,093,000 shares during the last quarter. ValueAct Holdings L.P. bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at $111,094,000. PointState Capital LP purchased a new position in shares of Live Nation Entertainment in the 3rd quarter worth $102,762,000. Finally, Vulcan Value Partners LLC increased its position in Live Nation Entertainment by 46.5% during the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after acquiring an additional 855,197 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

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.