Seaport Res Ptn Analysts Decrease Earnings Estimates for LYV

Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) - Research analysts at Seaport Res Ptn dropped their FY2024 earnings per share estimates for Live Nation Entertainment in a research report issued on Tuesday, November 12th. Seaport Res Ptn analyst D. Joyce now anticipates that the company will post earnings of $0.72 per share for the year, down from their previous estimate of $1.10. The consensus estimate for Live Nation Entertainment's current full-year earnings is $1.18 per share. Seaport Res Ptn also issued estimates for Live Nation Entertainment's Q4 2024 earnings at ($1.51) EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $1.54 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at ($1.28) EPS and FY2026 earnings at $1.87 EPS.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analysts' expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business's quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 earnings per share.

Several other equities research analysts also recently issued reports on the company. Guggenheim upped their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a "buy" rating in a report on Tuesday. Bank of America raised their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a "buy" rating in a report on Thursday. Roth Mkm raised their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Evercore ISI increased their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, StockNews.com cut Live Nation Entertainment from a "hold" rating to a "sell" rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus price target of $137.43.

Live Nation Entertainment Trading Up 1.3 %

LYV traded up $1.70 during trading on Thursday, hitting $128.72. The company's stock had a trading volume of 1,188,026 shares, compared to its average volume of 2,166,178. Live Nation Entertainment has a twelve month low of $81.38 and a twelve month high of $130.76. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock's fifty day moving average price is $111.36 and its 200-day moving average price is $100.15. The firm has a market capitalization of $29.65 billion, a P/E ratio of 135.65, a PEG ratio of 3.15 and a beta of 1.33.

Institutional Trading of Live Nation Entertainment

A number of hedge funds have recently bought and sold shares of LYV. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company's stock valued at $118,147,000 after purchasing an additional 387,008 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Live Nation Entertainment by 0.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 488,866 shares of the company's stock valued at $53,526,000 after purchasing an additional 3,200 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Live Nation Entertainment by 5.1% in the 3rd quarter. MetLife Investment Management LLC now owns 47,931 shares of the company's stock valued at $5,248,000 after purchasing an additional 2,342 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Live Nation Entertainment by 24.9% during the 3rd quarter. Townsquare Capital LLC now owns 4,361 shares of the company's stock valued at $477,000 after acquiring an additional 870 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Live Nation Entertainment during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares of the company's stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael Rapino sold 98,849 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares of the company's stock, valued at $360,956,212.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now directly owns 59,789 shares of the company's stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 177,000 shares of company stock valued at $17,238,181. Corporate insiders own 2.72% 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.