Zacks Research Has Optimistic Outlook of LYV FY2024 Earnings

Live Nation Entertainment, Inc. (NYSE:LYV) – Analysts at Zacks Research lifted their FY2024 EPS estimates for Live Nation Entertainment in a research report issued on Monday, January 13th. Zacks Research analyst R. Department now anticipates that the company will post earnings of $0.88 per share 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.

Other equities research analysts have also issued research reports about the company. Bank of America lifted their target price on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. TD Cowen lifted their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Citigroup increased 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. Roth Mkm lifted their price target on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Evercore ISI increased their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $145.40.

Live Nation Entertainment Stock Performance

LYV opened at $133.37 on Thursday. 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 capitalization of $30.99 billion, a price-to-earnings ratio of 141.88, a P/E/G ratio of 1.50 and a beta of 1.38. The business’s 50-day moving average price is $132.93 and its two-hundred day moving average price is $112.75. Live Nation Entertainment has a 1 year low of $86.67 and a 1 year high of $141.18.

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

Hedge Funds Weigh In On Live Nation Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth about $31,000. Retirement Wealth Solutions LLC acquired a new stake in Live Nation Entertainment during the fourth quarter worth approximately $44,000. Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment during the third quarter worth approximately $41,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $42,000. Finally, SOA Wealth Advisors LLC. bought a new position in shares of Live Nation Entertainment during the third quarter worth approximately $46,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

About Live Nation Entertainment

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.