Live Nation Entertainment, Inc. (LYV) operates globally in the entertainment industry through its Concerts, Ticketing, and Sponsorship & Advertising segments with a market cap of $21.9 billion. Based in Beverly Hills, California, the company is set to unveil its fiscal Q2 earnings results on Thursday, Jul. 25.
Ahead of this event, analysts expect LYV to report a profit of $1.05 per share, up 2.9% from $1.02 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in two of the past four quarters while missing on two other occasions. The company reported a loss per share of $0.53 in the most recent quarter, missing the consensus loss per share estimate by a significant 165% margin due to litigation accruals and depreciation costs from new venues.
For fiscal 2024, analysts expect LYV to report EPS of $1.38, up marginally from $1.37 in fiscal 2023. Looking forward to fiscal 2025, EPS is expected to grow by 65.9% annually to $2.29.
LYV has underperformed the broader markets in 2024, with shares up 1.1% on a YTD basis compared to the S&P 500 Index's ($SPX) 17.3% gain and the S&P 500 Communication Sector SPDR's (XLC) 20.3% returns over the same period.
Despite missing bottom-line estimates, shares of Live Nation Entertainment rallied 7.2% after the Q1 earnings announcement on May 2, driven by a better-than-expected topline figure, significant growth in ticket sales and concert revenue, positive future revenue guidance, and plans for venue expansions, overshadowing concerns over potential Department of Justice (DOJ) monopoly accusations.
Analysts' consensus rating on Live Nation Entertainment stock is bullish, with a "Strong Buy" rating overall. Out of 18 analysts covering the stock, opinions include 17 "Strong Buys" and one "Moderate Buy." This configuration is more bullish than three months ago, with 15 analysts suggesting a "Strong Buy."
The average analyst price target for LYV is $117.76, suggesting a potential upside of 24.6% from current levels.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
