Seaport Res Ptn Issues Pessimistic Estimate for LYV Earnings

Live Nation Entertainment, Inc. (NYSE:LYV) – Investment analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) 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 per share of $0.72 for the year, down from their prior forecast 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) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) 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 net margin of 2.11% and a return on equity of 77.62%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $1.78 EPS.

LYV has been the subject of a number of other research reports. Macquarie lifted their price objective on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Bank of America increased their price objective on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday. Oppenheimer boosted their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday. Guggenheim increased their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, TD Cowen upped their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.43.

Live Nation Entertainment Stock Up 1.7 %

Shares of NYSE LYV opened at $129.21 on Thursday. The firm’s 50 day moving average price is $112.06 and its 200 day moving average price is $100.35. The company has a debt-to-equity ratio of 6.10, a quick ratio of 0.92 and a current ratio of 1.01. The firm has a market cap of $29.76 billion, a P/E ratio of 137.46, a price-to-earnings-growth ratio of 3.15 and a beta of 1.33. Live Nation Entertainment has a 1 year low of $81.38 and a 1 year high of $130.76.

Institutional Trading of Live Nation Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. UMB Bank n.a. raised its stake in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after buying an additional 176 shares in the last quarter. Reston Wealth Management LLC bought a new position in Live Nation Entertainment during the 3rd quarter worth approximately $41,000. Finally, Family Firm Inc. acquired a new position in shares of Live Nation Entertainment in the 2nd quarter worth approximately $42,000. Institutional investors own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other news, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total transaction of $164,248.56. Following the completion of the sale, the director now directly owns 15,128 shares in the company, valued at $1,460,759.68. This trade represents a 10.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 approximately $1,190,911.47. This trade represents a 28.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 175,500 shares of company stock valued at $17,097,016 over the last quarter. Company 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.