What is Seaport Res Ptn's Forecast for LYV FY2024 Earnings?

Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) - Stock analysts at Seaport Res Ptn lowered their FY2024 earnings estimates for shares of Live Nation Entertainment in a report issued on Monday, January 6th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will post earnings per share of $0.66 for the year, down from their prior forecast of $0.72. The consensus estimate for Live Nation Entertainment's current full-year earnings is $1.04 per share.

Several other equities research analysts have also recently commented on LYV. JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $137.00 to $150.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. The Goldman Sachs Group boosted their price objective on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Guggenheim lifted their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Macquarie increased their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an "outperform" rating in a report on Friday, November 15th. Finally, Benchmark lifted their target price on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and an average price target of $145.40.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock traded up $0.32 during midday trading on Tuesday, reaching $129.59. The company had a trading volume of 2,214,337 shares, compared to its average volume of 1,747,684. The stock has a fifty day simple moving average of $131.42 and a 200 day simple moving average of $111.10. Live Nation Entertainment has a 1-year low of $86.67 and a 1-year high of $141.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market capitalization of $30.11 billion, a price-to-earnings ratio of 137.86, a price-to-earnings-growth ratio of 3.68 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) 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. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The company's revenue was down 6.2% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LYV. Brooklyn Investment Group bought a new stake in Live Nation Entertainment in the 3rd quarter valued at $31,000. Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the third quarter worth about $41,000. Morse Asset Management Inc bought a new position in shares of Live Nation Entertainment during the third quarter worth about $42,000. SOA Wealth Advisors LLC. acquired a new stake in Live Nation Entertainment in the 3rd quarter valued at approximately $46,000. Finally, Cromwell Holdings LLC lifted its stake in Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company's stock valued at $47,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

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.