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

Live Nation Entertainment, Inc. (NYSE:LYV) – Equities research analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for shares of Live Nation Entertainment in a note issued to investors 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 previous forecast of $1.10. The consensus estimate for Live Nation Entertainment’s current full-year earnings is $1.11 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 issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period last year, the company earned $1.78 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year.

LYV has been the topic of several other research reports. StockNews.com lowered shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. Bank of America lifted their target price on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday. TD Cowen raised 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 report on Tuesday. Roth Mkm boosted their target price on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Benchmark lifted their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $138.57.

Live Nation Entertainment Stock Down 0.1 %

Shares of NYSE LYV opened at $129.00 on Thursday. Live Nation Entertainment has a 52-week low of $81.38 and a 52-week high of $130.83. 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 company’s 50 day moving average price is $112.78 and its 200-day moving average price is $100.62. The company has a market capitalization of $29.97 billion, a P/E ratio of 137.23, a price-to-earnings-growth ratio of 3.27 and a beta of 1.33.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of Live Nation Entertainment stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the transaction, the director now directly owns 15,128 shares of the company’s stock, valued at $1,460,759.68. The trade was a 10.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,500 shares of company stock valued at $17,097,016. Corporate insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth $31,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake 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 acquiring an additional 202 shares during the last quarter. UMB Bank n.a. grew its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after acquiring an additional 176 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter worth approximately $41,000. Finally, Family Firm Inc. bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors 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.