Roth Capital Comments on Live Nation Entertainment, Inc.’s Q1 2024 Earnings (NYSE:LYV)

Live Nation Entertainment, Inc. (NYSE:LYV) – Equities research analysts at Roth Capital decreased their Q1 2024 earnings per share estimates for shares of Live Nation Entertainment in a note issued to investors on Tuesday, April 23rd. Roth Capital analyst E. Handler now expects that the company will earn ($0.26) per share for the quarter, down from their prior estimate of ($0.24). Roth Capital currently 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.

A number of other equities research analysts have also recently weighed in on the company. Oppenheimer upped their price target on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. TD Cowen reiterated a “buy” rating and set a $108.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Rosenblatt Securities decreased their price objective on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Finally, Morgan Stanley raised their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. One 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 stock has a consensus rating of “Moderate Buy” and an average price target of $116.30.

Live Nation Entertainment Stock Performance

LYV opened at $88.49 on Friday. The stock has a market cap of $20.42 billion, a P/E ratio of 66.53 and a beta of 1.30. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $98.94 and its 200 day simple moving average is $91.50. Live Nation Entertainment has a 1-year low of $64.96 and a 1-year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LYV. Czech National Bank increased its position in shares of Live Nation Entertainment by 0.5% during the first quarter. Czech National Bank now owns 24,965 shares of the company’s stock worth $2,641,000 after acquiring an additional 115 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Live Nation Entertainment by 0.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company’s stock valued at $2,324,000 after acquiring an additional 117 shares during the period. Lindbrook Capital LLC raised its holdings in Live Nation Entertainment by 44.1% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after purchasing an additional 119 shares in the last quarter. Hohimer Wealth Management LLC raised its holdings in Live Nation Entertainment by 1.1% during the third quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock worth $956,000 after purchasing an additional 123 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Live Nation Entertainment by 1.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company’s stock worth $1,100,000 after purchasing an additional 130 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.85% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Company Profile

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.