Roth Capital Has Strong Estimate for LYV FY2024 Earnings

Live Nation Entertainment, Inc. (NYSE:LYV) – Roth Capital lifted their FY2024 earnings estimates for Live Nation Entertainment in a report issued on Thursday, December 12th. Roth Capital analyst E. Handler now forecasts that the company will earn $0.87 per share for the year, up from their previous estimate of $0.86. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.04 per share. Roth Capital also issued estimates for Live Nation Entertainment’s Q4 2024 earnings at ($1.47) EPS, Q1 2025 earnings at ($0.04) EPS, Q4 2025 earnings at ($1.47) EPS and FY2025 earnings at $2.13 EPS.

Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Guggenheim boosted their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Roth Mkm increased their target price on Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Oppenheimer lifted their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $144.33.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $137.81 on Monday. The business has a 50-day simple moving average of $126.33 and a 200-day simple moving average of $106.83. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment has a one year low of $86.67 and a one year high of $141.18. The company has a market cap of $32.02 billion, a PE ratio of 146.61, a P/E/G ratio of 3.65 and a beta of 1.37.

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

Institutional Trading of Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama boosted its holdings in shares of Live Nation Entertainment by 8.6% in the third quarter. Retirement Systems of Alabama now owns 34,119 shares of the company’s stock valued at $3,736,000 after acquiring an additional 2,697 shares in the last quarter. Tidal Investments LLC lifted its position in Live Nation Entertainment by 10.7% in the third quarter. Tidal Investments LLC now owns 24,668 shares of the company’s stock valued at $2,701,000 after purchasing an additional 2,386 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Live Nation Entertainment during the 3rd quarter worth approximately $499,000. World Investment Advisors LLC purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth approximately $38,000. Finally, Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Live Nation Entertainment by 2.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 45,037 shares of the company’s stock valued at $4,931,000 after buying an additional 1,016 shares during the period. 74.52% of the stock is 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.