Zacks Research Has Bullish Forecast for LYV FY2024 Earnings

Live Nation Entertainment, Inc. (NYSE:LYV) – Analysts at Zacks Research boosted their FY2024 earnings per share estimates for Live Nation Entertainment in a research note issued to investors on Monday, January 13th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $0.88 for the year, up from their prior estimate of $0.86. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.02 per share. Zacks Research also issued estimates for Live Nation Entertainment’s Q4 2024 earnings at ($1.28) EPS, Q3 2025 earnings at $1.86 EPS, Q4 2025 earnings at ($0.82) EPS, Q3 2026 earnings at $1.88 EPS, Q4 2026 earnings at ($0.68) EPS and FY2026 earnings at $2.63 EPS.

A number of other research analysts have also weighed in on the company. Evercore ISI increased their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Guggenheim lifted 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. 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 report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Benchmark raised their target price on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Price Performance

NYSE LYV opened at $133.52 on Thursday. The stock’s fifty day moving average price is $133.08 and its 200 day moving average price is $112.89. Live Nation Entertainment has a 1 year low of $86.67 and a 1 year high of $141.18. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $31.02 billion, a price-to-earnings ratio of 142.04, a PEG ratio of 1.50 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. Live Nation Entertainment’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the business earned $1.78 EPS.

Institutional Investors Weigh In On Live Nation Entertainment

Several large investors have recently bought and sold shares of the company. Frank Rimerman Advisors LLC acquired a new position in Live Nation Entertainment in the 2nd quarter valued at $748,000. Select Equity Group L.P. boosted its position in 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 worth $1,213,053,000 after acquiring an additional 1,415,173 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new stake in Live Nation Entertainment during the 2nd quarter valued at about $3,985,000. Czech National Bank lifted its stake in Live Nation Entertainment by 17.5% in the 3rd quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after purchasing an additional 4,761 shares in the last quarter. Finally, Coronation Fund Managers Ltd. boosted its holdings in shares of Live Nation Entertainment by 48.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock worth $4,798,000 after purchasing an additional 16,668 shares during the last quarter. 74.52% of the stock is currently 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.