Equities Analysts Set Expectations for LYV FY2024 Earnings

Live Nation Entertainment, Inc. (NYSE:LYV) – Analysts at Roth Capital increased their FY2024 earnings estimates for shares of Live Nation Entertainment in a research report issued to clients and investors on Thursday, December 12th. Roth Capital analyst E. Handler now anticipates that the company will earn $0.87 per share for the year, up from their previous forecast of $0.86. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.04 per share. Roth Capital also issued estimates for Live Nation Entertainment’s Q4 2024 earnings at ($1.47) EPS, Q1 2025 earnings at ($0.04) EPS, Q4 2025 earnings at ($1.47) EPS and FY2025 earnings at $2.13 EPS.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $7.75 billion. During the same period last year, the company earned $1.78 earnings per share. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year.

Several other analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Oppenheimer boosted their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Evercore ISI lifted their price target 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. Finally, Bank of America increased their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.33.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $137.86 on Monday. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average of $126.86 and a 200 day moving average of $107.14. The firm has a market cap of $32.03 billion, a PE ratio of 146.66, a PEG ratio of 3.65 and a beta of 1.37. Live Nation Entertainment has a one year low of $86.67 and a one year high of $141.18.

Hedge Funds Weigh In On Live Nation Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of the company. Select Equity Group L.P. lifted its holdings in Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after acquiring an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. raised its position in Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after purchasing an additional 1,093,000 shares during the period. ValueAct Holdings L.P. acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $111,094,000. PointState Capital LP purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth $102,762,000. Finally, Vulcan Value Partners LLC increased its position in shares of Live Nation Entertainment by 46.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after purchasing an additional 855,197 shares during the last quarter. 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.