Seaport Res Ptn Brokers Decrease Earnings Estimates for Live Nation Entertainment, Inc. (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Equities researchers at Seaport Res Ptn reduced their Q2 2024 earnings per share estimates for shares of Live Nation Entertainment in a note issued to investors on Sunday, June 30th. Seaport Res Ptn analyst D. Joyce now expects that the company will post earnings per share of $1.01 for the quarter, down from their previous forecast of $1.03. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.37 per share. Seaport Res Ptn also issued estimates for Live Nation Entertainment’s Q3 2024 earnings at $1.74 EPS, Q2 2025 earnings at $1.21 EPS and Q3 2025 earnings at $1.95 EPS.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. Live Nation Entertainment’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.25) earnings per share.

A number of other research firms have also recently commented on LYV. Oppenheimer restated an “outperform” rating and issued a $110.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, June 25th. Roth Mkm restated a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research note on Friday, May 24th. JPMorgan Chase & Co. lowered their target price on Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Rosenblatt Securities raised their target price on Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, TD Cowen reiterated a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $115.58.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $94.81 on Tuesday. The firm has a market cap of $21.78 billion, a P/E ratio of 90.30, a P/E/G ratio of 1.92 and a beta of 1.34. Live Nation Entertainment has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The business’s 50 day moving average price is $93.37 and its 200-day moving average price is $94.45. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92.

Institutional Trading of Live Nation Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of LYV. Bank of New Hampshire grew its holdings in shares of Live Nation Entertainment by 1.3% in the second quarter. Bank of New Hampshire now owns 21,217 shares of the company’s stock worth $1,989,000 after acquiring an additional 264 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Live Nation Entertainment by 130.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 59,529 shares of the company’s stock worth $6,315,000 after acquiring an additional 33,681 shares during the period. Cetera Advisors LLC bought a new stake in shares of Live Nation Entertainment in the first quarter worth $207,000. Plato Investment Management Ltd grew its holdings in shares of Live Nation Entertainment by 3,291.8% in the first quarter. Plato Investment Management Ltd now owns 5,359 shares of the company’s stock worth $567,000 after acquiring an additional 5,201 shares during the period. Finally, Western Pacific Wealth Management LP grew its holdings in shares of Live Nation Entertainment by 14.7% in the first quarter. Western Pacific Wealth Management LP now owns 1,125 shares of the company’s stock worth $119,000 after acquiring an additional 144 shares during the period. Institutional investors own 74.52% of the company’s stock.

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.