Brokers Offer Predictions for Live Nation Entertainment, Inc.’s Q2 2024 Earnings (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Equities research analysts at Seaport Res Ptn reduced their Q2 2024 earnings per share (EPS) estimates for Live Nation Entertainment in a research note issued to investors on Sunday, June 30th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will earn $1.01 per share for the quarter, down from their previous forecast of $1.03. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.37 per share. Seaport Res Ptn also issued estimates for Live Nation Entertainment’s Q3 2024 earnings at $1.74 EPS, Q2 2025 earnings at $1.21 EPS and Q3 2025 earnings at $1.95 EPS.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly 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). The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. Live Nation Entertainment’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.25) earnings per share.

A number of other brokerages also recently weighed in on LYV. Northcoast Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Roth Mkm reaffirmed a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Friday, May 24th. Morgan Stanley restated an “overweight” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. TD Cowen reissued a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.58.

Live Nation Entertainment Trading Up 1.1 %

Shares of Live Nation Entertainment stock opened at $94.77 on Tuesday. Live Nation Entertainment has a 12-month low of $76.48 and a 12-month high of $107.24. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. The company has a market capitalization of $21.77 billion, a P/E ratio of 90.26, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34. The stock has a fifty day simple moving average of $93.14 and a 200 day simple moving average of $94.42.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds have recently modified their holdings of the company. Creative Financial Designs Inc. ADV grew its stake in shares of Live Nation Entertainment by 148.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock valued at $31,000 after buying an additional 200 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Live Nation Entertainment during the 1st quarter worth $32,000. Raleigh Capital Management Inc. acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth about $33,000. Rise Advisors LLC increased its stake in Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after purchasing an additional 159 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in Live Nation Entertainment by 44.1% in the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after acquiring an additional 119 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.