Seaport Res Ptn Issues Pessimistic Estimate for LYV Earnings

Live Nation Entertainment, Inc. (NYSE:LYV) – Stock analysts at Seaport Res Ptn dropped their FY2024 earnings per share 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 earn $0.66 per share for the year, down from their prior estimate of $0.72. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.04 per share.

Several other equities research analysts have also commented on the company. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Guggenheim increased their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft lifted their price objective 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, Evercore ISI upped their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Price Performance

Shares of LYV opened at $129.59 on Tuesday. The company has a market cap of $30.11 billion, a P/E ratio of 137.86, 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. The firm’s 50 day moving average price is $131.63 and its 200 day moving average price is $111.36. Live Nation Entertainment has a fifty-two week low of $86.67 and a fifty-two week high of $141.18.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS 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 company had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period last year, the business posted $1.78 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year.

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors have recently modified their holdings of the business. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth approximately $31,000. World Investment Advisors LLC bought a new position in shares of Live Nation Entertainment in the third quarter valued at about $38,000. Reston Wealth Management LLC acquired a new position in Live Nation Entertainment in the 3rd quarter valued at about $41,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $42,000. Finally, SOA Wealth Advisors LLC. bought a new position in Live Nation Entertainment during the 3rd quarter worth $46,000. Institutional investors own 74.52% 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.