Jefferies Financial Group Equities Analysts Increase Earnings Estimates for Live Nation Entertainment, Inc. (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Jefferies Financial Group lifted their Q2 2023 earnings per share estimates for shares of Live Nation Entertainment in a report issued on Tuesday, September 14th. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings per share of $0.81 for the quarter, up from their previous forecast of $0.77. Jefferies Financial Group has a “Buy” rating and a $103.00 price objective on the stock. Jefferies Financial Group also issued estimates for Live Nation Entertainment’s FY2023 earnings at $1.33 EPS.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, August 3rd. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.35) by $0.45. Live Nation Entertainment had a negative net margin of 114.44% and a negative return on equity of 1,833.44%. The firm had revenue of $575.95 million for the quarter, compared to the consensus estimate of $469.84 million.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, July 21st. Wolfe Research began coverage on shares of Live Nation Entertainment in a report on Wednesday, May 19th. They issued an “outperform” rating and a $97.00 price objective for the company. The Goldman Sachs Group assumed coverage on Live Nation Entertainment in a research report on Thursday, July 15th. They issued a “buy” rating and a $110.00 price objective for the company. Finally, Morgan Stanley upped their price target on Live Nation Entertainment from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, August 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $93.33.

Shares of Live Nation Entertainment stock opened at $88.68 on Wednesday. The firm’s 50-day moving average is $82.82 and its two-hundred day moving average is $84.98. The stock has a market cap of $19.42 billion, a price-to-earnings ratio of -12.98 and a beta of 1.34. Live Nation Entertainment has a 1 year low of $47.97 and a 1 year high of $94.63.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Marks Group Wealth Management Inc increased its holdings in Live Nation Entertainment by 5.5% during the 2nd quarter. Marks Group Wealth Management Inc now owns 2,689 shares of the company’s stock worth $236,000 after purchasing an additional 141 shares during the period. Elo Mutual Pension Insurance Co increased its holdings in shares of Live Nation Entertainment by 1.4% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 11,748 shares of the company’s stock valued at $994,000 after acquiring an additional 163 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Live Nation Entertainment by 1.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,969 shares of the company’s stock valued at $1,048,000 after acquiring an additional 186 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Live Nation Entertainment by 0.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 29,791 shares of the company’s stock worth $2,609,000 after buying an additional 188 shares during the last quarter. Finally, Cigna Investments Inc. New grew its stake in Live Nation Entertainment by 3.8% during the 1st quarter. Cigna Investments Inc. New now owns 5,157 shares of the company’s stock worth $437,000 after buying an additional 189 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing and selling live concerts for artists via global concert pipe. It operates through the following segments: Concerts, Sponsorship & Advertising and Ticketing. The Concerts segment involves in the promotion of live music events in owned or operated and in rented third-party venues.

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Earnings History and Estimates for Live Nation Entertainment (NYSE:LYV)

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