Q3 2024 EPS Estimates for Live Nation Entertainment, Inc. Cut by Seaport Res Ptn (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) - Research analysts at Seaport Res Ptn reduced their Q3 2024 earnings estimates for shares of Live Nation Entertainment in a research note issued to investors on Thursday, August 22nd. Seaport Res Ptn analyst D. Joyce now expects that the company will earn $1.66 per share for the quarter, down from their previous forecast of $1.67. The consensus estimate for Live Nation Entertainment's current full-year earnings is $1.21 per share. Seaport Res Ptn also issued estimates for Live Nation Entertainment's FY2024 earnings at $1.10 EPS, Q1 2025 earnings at $0.05 EPS and Q2 2025 earnings at $1.02 EPS.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $6.02 billion. During the same period in the previous year, the company posted $1.02 earnings per share. Live Nation Entertainment's quarterly revenue was up 7.0% on a year-over-year basis.

Several other research firms have also recently commented on LYV. Roth Mkm restated a "buy" rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Friday, May 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Macquarie reaffirmed an "outperform" rating and issued a $125.00 target price on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Northcoast Research cut shares of Live Nation Entertainment from a "buy" rating to a "neutral" rating in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average target price of $118.17.

Live Nation Entertainment Stock Performance

LYV traded down $0.64 on Monday, hitting $96.14. 1,000,976 shares of the company traded hands, compared to its average volume of 2,142,968. The company has a 50 day moving average of $93.93 and a 200-day moving average of $95.52. Live Nation Entertainment has a 12-month low of $76.48 and a 12-month high of $107.24. The stock has a market capitalization of $22.09 billion, a PE ratio of 91.56, a PEG ratio of 2.18 and a beta of 1.34. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the company's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now owns 12,327 shares of the company's stock, valued at $1,190,911.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares in the company, valued at $1,190,911.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares in the company, valued at $5,626,742.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,201 shares of company stock valued at $788,464. 2.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Live Nation Entertainment

A number of institutional investors have recently made changes to their positions in LYV. YHB Investment Advisors Inc. acquired a new position in shares of Live Nation Entertainment in the first quarter valued at approximately $32,000. Rise Advisors LLC lifted its stake in shares of Live Nation Entertainment by 90.3% during the 1st quarter. Rise Advisors LLC now owns 335 shares of the company's stock worth $35,000 after purchasing an additional 159 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Live Nation Entertainment by 44.1% in the first quarter. Lindbrook Capital LLC now owns 389 shares of the company's stock valued at $41,000 after purchasing an additional 119 shares during the period. Finally, UMB Bank n.a. increased its stake in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company's stock valued at $41,000 after purchasing an additional 176 shares during the last quarter. 74.52% of the stock is 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.