Seaport Res Ptn Lowers Earnings Forecast for Live Nation Entertainment

On January 6th, 2025, analysts from Seaport Res Ptn revised their earnings per share (EPS) estimates for Live Nation Entertainment, Inc. (NYSE:LYV). The updated projection suggests that the company is expected to report earnings of $0.66 per share for fiscal year 2024. This is a decline from their previous estimate of $0.72 per share. In contrast, the current consensus estimate for Live Nation's full-year earnings stands at $1.04 per share.

Recently, Live Nation reported its quarterly earnings on November 11th, where it achieved earnings per share of $1.66. This figure exceeded the consensus estimate of $1.58 by $0.08. Despite this positive earnings report, the company's revenue of $7.65 billion fell short of analysts' expectations, which had estimated revenue at $7.75 billion. Additionally, Live Nation's earnings per share marked a decrease from $1.78 reported in the same quarter last year, reflecting a 6.2% decline in quarterly revenue.

Live Nation has received various assessments from other investment firms as well. For instance, on November 14th, Bank of America lifted its price target for Live Nation from $125.00 to $149.00 while maintaining a "buy" rating. Similarly, the Goldman Sachs Group raised its price target from $132.00 to $148.00, also issuing a "buy" rating. Further adjustments were made by Citigroup, which increased its target price from $130.00 to $163.00. Other upgrades included JPMorgan Chase & Co., which increased its price target from $137.00 to $150.00, and Roth MKM, which raised its target from $132.00 to $152.00, both giving the stock a "buy" rating.

Currently, the consensus among analysts for Live Nation features a range of opinions, with two analysts rating the stock as a hold while sixteen rated it as a buy. According to data from MarketBeat.com, the overall consensus rating for Live Nation is a moderate buy, and the average price target is pinned at $145.40.

Live Nation's Performance on the Market

As of Tuesday, LYV shares opened at $130.19. The stock has maintained a fifty-day moving average of $131.89 and a two-hundred-day average of $111.49. Over the past twelve months, the stock has fluctuated between a low of $86.67 and a high of $141.18. Live Nation currently holds a market capitalization of $30.25 billion, with a P/E ratio of 138.50, a PEG ratio of 3.68, and a beta of 1.38.

Changes in Institutional Holdings

Several institutional investors have recently adjusted their holdings in Live Nation. Select Equity Group L.P. increased its stake by 12.3% in the second quarter, owning approximately 12.94 million shares valued at over $1.21 billion. D1 Capital Partners L.P. boosted its holdings by 44.6%, acquiring an additional 1.09 million shares. Other significant transactions included ValueAct Holdings L.P. purchasing a new position worth $111.09 million and PointState Capital LP securing a position valued at $102.76 million. Notably, institutional investors collectively own about 74.52% of Live Nation's stock.

About Live Nation Entertainment

Live Nation Entertainment operates globally as a live entertainment company through various segments, including Concerts, Ticketing, and Sponsorship & Advertising. The Concerts segment is particularly significant as it promotes live music events and manages venues.

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