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

Live Nation Entertainment, Inc. (NYSE:LYV) – Stock analysts at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for shares of Live Nation Entertainment in a research note issued on Tuesday, November 12th. Seaport Res Ptn analyst D. Joyce now expects that the company will post earnings per share of $0.72 for the year, down from their previous 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.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Macquarie increased their target price 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. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. TD Cowen boosted their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Roth Mkm lifted their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One equities research 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $135.71.

Live Nation Entertainment Stock Performance

LYV opened at $126.98 on Thursday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92. The business has a fifty day simple moving average of $111.36 and a 200 day simple moving average of $100.15. Live Nation Entertainment has a 1 year low of $81.38 and a 1 year high of $130.76. The company has a market capitalization of $29.25 billion, a PE ratio of 135.09, a price-to-earnings-growth ratio of 3.15 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share.

Institutional Trading of Live Nation Entertainment

Institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Live Nation Entertainment by 55.9% during the third 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 acquiring an additional 387,008 shares during the last quarter. Public Sector Pension Investment Board lifted its stake 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 worth $53,526,000 after purchasing an additional 3,200 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Live Nation Entertainment by 5.1% in the third quarter. MetLife Investment Management LLC now owns 47,931 shares of the company’s stock worth $5,248,000 after buying an additional 2,342 shares during the last quarter. Townsquare Capital LLC increased its holdings in Live Nation Entertainment by 24.9% during the third quarter. Townsquare Capital LLC now owns 4,361 shares of the company’s stock valued at $477,000 after buying an additional 870 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Live Nation Entertainment in the third quarter worth approximately $31,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the sale, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock valued at $17,238,181 over the last three months. 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.