Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) - Roth Capital reduced their Q1 2024 earnings estimates for Live Nation Entertainment in a note issued to investors on Tuesday, April 23rd. Roth Capital analyst E. Handler now anticipates that the company will post earnings of ($0.26) per share for the quarter, down from their prior forecast of ($0.24). Roth Capital has a "Buy" rating on the stock. The consensus estimate for Live Nation Entertainment's current full-year earnings is $1.62 per share. Roth Capital also issued estimates for Live Nation Entertainment's Q2 2024 earnings at $1.20 EPS and Q4 2024 earnings at ($1.34) EPS.
LYV has been the topic of several other reports. Roth Mkm reaffirmed a "buy" rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday. Morgan Stanley upped their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Friday, February 23rd. Rosenblatt Securities reduced their target price on shares of Live Nation Entertainment from $124.00 to $119.00 and set a "buy" rating on the stock in a research report on Thursday, April 11th. Oppenheimer upped their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 21st. Finally, TD Cowen reiterated a "buy" rating and set a $108.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $116.30.
Check Out Our Latest Analysis on Live Nation Entertainment
Live Nation Entertainment Price Performance
Live Nation Entertainment stock traded up $1.34 during trading hours on Friday, hitting $89.83. 1,785,137 shares of the stock were exchanged, compared to its average volume of 2,274,432. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $20.73 billion, a P/E ratio of 67.54 and a beta of 1.30. Live Nation Entertainment has a 12 month low of $65.20 and a 12 month high of $107.24. The business's 50-day moving average is $98.87 and its two-hundred day moving average is $91.52.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%.
Institutional Investors Weigh In On Live Nation Entertainment
Large investors have recently made changes to their positions in the stock. CWM LLC grew its position in Live Nation Entertainment by 14.5% in the third quarter. CWM LLC now owns 1,948 shares of the company's stock valued at $162,000 after purchasing an additional 246 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Live Nation Entertainment in the third quarter valued at $236,000. Caprock Group LLC acquired a new stake in Live Nation Entertainment in the third quarter valued at $221,000. Oak Thistle LLC acquired a new stake in Live Nation Entertainment in the third quarter valued at $866,000. Finally, Czech National Bank lifted its stake in Live Nation Entertainment by 45.4% in the third quarter. Czech National Bank now owns 24,780 shares of the company's stock valued at $2,058,000 after acquiring an additional 7,743 shares during the last quarter. Institutional investors own 74.52% of the company's stock.
Insider Activity at Live Nation Entertainment
In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the company's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the sale, the director now owns 59,374 shares of the company's stock, valued at $5,967,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.85% of the stock is currently owned by company insiders.
About Live Nation Entertainment
(
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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.
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