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

Live Nation Entertainment, Inc. (NYSE:LYV) – Stock analysts at Roth Capital dropped their Q1 2024 earnings estimates for shares of Live Nation Entertainment in a research note issued on Tuesday, April 23rd. Roth Capital analyst E. Handler now expects 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.

A number of other research analysts have also recently commented on LYV. Morgan Stanley increased their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Oppenheimer raised their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Rosenblatt Securities reduced their price objective on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. 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. Finally, TD Cowen reaffirmed a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.30.

Live Nation Entertainment Stock Up 1.5 %

LYV opened at $89.83 on Friday. The stock has a market cap of $20.73 billion, a PE ratio of 67.54 and a beta of 1.30. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30. Live Nation Entertainment has a 52 week low of $65.20 and a 52 week high of $107.24. The business’s fifty day simple moving average is $98.87 and its 200 day simple moving average is $91.52.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data 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). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The business had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.72 billion.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the transaction, the director now directly owns 59,374 shares in the company, valued at $5,967,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.85% of the company’s stock.

Hedge Funds Weigh In On Live Nation Entertainment

Hedge funds have recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its position in Live Nation Entertainment by 148.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the period. YHB Investment Advisors Inc. bought a new stake in Live Nation Entertainment in the 1st quarter worth approximately $32,000. Raleigh Capital Management Inc. bought a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $33,000. Rise Advisors LLC grew its position in Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its position in Live Nation Entertainment by 9,800.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock worth $41,000 after purchasing an additional 490 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

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.