Roth Capital Comments on Live Nation Entertainment, Inc.’s Q1 2024 Earnings (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Analysts at Roth Capital dropped their Q1 2024 EPS estimates for shares of Live Nation Entertainment in a report issued on Tuesday, April 23rd. Roth Capital analyst E. Handler now anticipates that the company will post earnings of ($0.26) per share for the quarter, down from their previous estimate of ($0.24). Roth Capital has a “Buy” rating on the stock. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.62 per share. Roth Capital also issued estimates for Live Nation Entertainment’s Q2 2024 earnings at $1.20 EPS and Q4 2024 earnings at ($1.34) EPS.

Several other research analysts have also weighed in on the stock. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Oppenheimer boosted their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. TD Cowen reiterated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Rosenblatt Securities decreased their price target on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $116.30.

Live Nation Entertainment Stock Down 1.3 %

Live Nation Entertainment stock opened at $88.49 on Friday. The firm has a market capitalization of $20.42 billion, a PE ratio of 66.53 and a beta of 1.30. The company’s 50-day moving average is $98.94 and its 200-day moving average is $91.50. Live Nation Entertainment has a fifty-two week low of $64.96 and a fifty-two week high of $107.24. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the sale, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.85% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in LYV. Creative Financial Designs Inc. ADV increased its position in 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 acquiring an additional 200 shares during the period. Raleigh Capital Management Inc. acquired a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $33,000. Rise Advisors LLC increased its position in Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after acquiring an additional 159 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in Live Nation Entertainment by 9,800.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock valued at $41,000 after acquiring an additional 490 shares during the period. Finally, Lindbrook Capital LLC increased its position in Live Nation Entertainment by 44.1% in the 1st 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 period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

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.