Roth Capital Has Negative Estimate for LYV Q3 Earnings

Live Nation Entertainment, Inc. (NYSE:LYV) – Analysts at Roth Capital lowered their Q3 2024 earnings estimates for Live Nation Entertainment in a research report issued to clients and investors on Wednesday, October 16th. Roth Capital analyst E. Handler now expects that the company will earn $1.65 per share for the quarter, down from their previous forecast of $1.94. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.21 per share. Roth Capital also issued estimates for Live Nation Entertainment’s Q4 2024 earnings at ($1.46) EPS, FY2024 earnings at $0.86 EPS, FY2025 earnings at $0.53 EPS and FY2026 earnings at $0.70 EPS.

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

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Roth Mkm lifted their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday. Oppenheimer increased their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Finally, Benchmark restated a “buy” rating and issued a $132.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.77.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $114.94 on Friday. The firm has a market capitalization of $26.41 billion, a PE ratio of 109.47, a PEG ratio of 2.65 and a beta of 1.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment has a 1 year low of $76.48 and a 1 year high of $116.57. The firm’s fifty day simple moving average is $102.67 and its 200 day simple moving average is $97.23.

Institutional Investors Weigh In On Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC lifted its position 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 purchasing an additional 159 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after buying an additional 176 shares during the period. Family Firm Inc. bought a new stake in shares of Live Nation Entertainment during the second quarter worth $42,000. Finally, American National Bank & Trust bought a new position in Live Nation Entertainment in the third quarter valued at about $50,000. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the sale, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 over the last three months. Company insiders own 2.85% 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.