Live Nation Entertainment, Inc. (NYSE ticker symbol: LIE – get rating) – Investment analysts at Jefferies Financial Group lowered their first-quarter 2023 earnings per share (EPS) estimates for shares of Live Nation Entertainment in a research report on Tuesday, February 28th. Jefferies Financial Group analyst D. Katz now expects the company to report earnings per share ($0.53) for the quarter, down from a previous forecast ($0.33). The current consensus estimate for Live Nation Entertainment’s full-year earnings is $1.07 per share. Jefferies Financial Group also released Live Nation Entertainment Q2 2023 EPS of $0.52, Q3 2023 EPS of $1.06, Q4 2023 EPS ($0.89), FY 2023 EPS $0.15 and FY 2024 EPS estimates of $1.94.
Many other stock analysts have also commented on LYV recently. Goldman Sachs Group lowered their price target on Live Nation Entertainment from $130.00 to $112.00 and set a “buy” rating on the company in a report on Friday, November 4th. Redburn Partners began coverage on shares of Live Nation Entertainment in a research report on Tuesday, November 22nd. They set a “neutral” rating on the company. Rosenblatt Securities upped their price target on Live Nation Entertainment from $101.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley cut their price target on shares of Live Nation Entertainment from $95.00 to $80.00 and set an “equal weight” rating on the company in a research report on Wednesday, November 30th. Finally, Citigroup upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $90.00 to $82.00 in a research report on Monday, November 28th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating on the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.11.
Live Nation Entertainment Price Performance
shares Live Nation Entertainment Stock It opened Friday at $72.46. The market cap is $16.78 billion, with a price-to-earnings ratio of 127.13 and a beta of 1.31. The company’s debt-to-equity ratio is 56.33, the quick ratio is 0.98, and the current ratio is 0.98. The stock has a 50-day moving average of $75.03 and a 200-day moving average of $78.07. Live Nation Entertainment had a one-year low of $65.05 and a one-year high of $122.71.
Institutional deal for Live Nation Entertainment
Many hedge funds and other institutional investors have recently revised their holdings of LYV. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Live Nation Entertainment by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,075 shares of the company worth $2,126,000 after acquiring an additional 1,120 shares last quarter. Raymond James Trust NA increased its stake in Live Nation Entertainment by 4.3% in the first quarter. Raymond James Trust NA now owns 3,139 shares of the company, worth $369,000, after purchasing an additional 130 shares during that period. Cibc World Market Inc. purchased a new position in Live Nation Entertainment for approximately $421,000 during the first quarter. Vontobel Holding Ltd. increased its stake in Live Nation Entertainment by 31.0% in the first quarter. Vontobel Holding Ltd. now owns 2,362 shares of the company worth $279,000 after acquiring an additional 559 shares in the period. Finally, Prudential PLC purchased a new position at Live Nation Entertainment in the first quarter for approximately $294,000. 69.90% of shares are held by institutional investors and hedge funds.
About Live Nation Entertainment
Live Nation Entertainment, Inc operates as an entertainment company. The company produces, markets and sells live concerts for artists through its global concert pipeline. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events at owned or operated venues as well as leased third-party venues.
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