Equities Analysts Offer Predictions for Liberty Energy Inc.’s Q3 2024 Earnings (NYSE:LBRT)

Posted by Defense World Staff on Oct 9th, 2023

Liberty Energy Inc. (NYSE:LBRT – Free Report) – Investment analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of Liberty Energy in a report issued on Thursday, October 5th. Zacks Research analyst T. Saha now expects that the company will earn $0.58 per share for the quarter, down from their prior forecast of $0.59. The consensus estimate for Liberty Energy’s current full-year earnings is $3.12 per share. Zacks Research also issued estimates for Liberty Energy’s Q3 2025 earnings at $0.79 EPS.

Several other equities research analysts have also recently weighed in on LBRT. Wells Fargo & Company reduced their price objective on Liberty Energy from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, June 30th. Atb Cap Markets upgraded Liberty Energy from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, September 26th. Stifel Nicolaus dropped their price objective on Liberty Energy from $28.00 to $26.00 in a research note on Wednesday, July 12th. Citigroup increased their price objective on Liberty Energy from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 19th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $18.00 price objective on shares of Liberty Energy in a research note on Monday, July 24th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.75.

View Our Latest Report on LBRT

Liberty Energy Stock Up 1.9 %

Shares of Liberty Energy stock opened at $16.91 on Monday. The stock has a market capitalization of $2.88 billion, a P/E ratio of 5.02 and a beta of 2.05. The company has a quick ratio of 1.17, a current ratio of 1.44 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $17.04 and a two-hundred day moving average price of $14.66. Liberty Energy has a 12-month low of $11.18 and a 12-month high of $19.10.

Liberty Energy (NYSE:LBRT – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.26 billion. Liberty Energy had a return on equity of 39.89% and a net margin of 12.63%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS.

Institutional Trading of Liberty Energy

Several large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new stake in Liberty Energy in the second quarter valued at about $26,000. CWM LLC increased its holdings in Liberty Energy by 172.0% in the second quarter. CWM LLC now owns 1,983 shares of the company’s stock worth $27,000 after purchasing an additional 1,254 shares in the last quarter. US Bancorp DE increased its holdings in Liberty Energy by 67.0% in the first quarter. US Bancorp DE now owns 2,300 shares of the company’s stock worth $29,000 after purchasing an additional 923 shares in the last quarter. Quarry LP increased its holdings in Liberty Energy by 111.0% in the second quarter. Quarry LP now owns 3,965 shares of the company’s stock worth $53,000 after purchasing an additional 2,086 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in Liberty Energy by 164.1% in the first quarter. Benjamin Edwards Inc. now owns 4,286 shares of the company’s stock worth $55,000 after purchasing an additional 2,663 shares in the last quarter. 91.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Liberty Energy

In other Liberty Energy news, CAO Ryan T. Gosney sold 1,500 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $17.00, for a total transaction of $25,500.00. Following the transaction, the chief accounting officer now owns 122,034 shares in the company, valued at approximately $2,074,578. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Ryan T. Gosney sold 1,500 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $17.00, for a total transaction of $25,500.00. Following the sale, the chief accounting officer now directly owns 122,034 shares of the company’s stock, valued at approximately $2,074,578. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider R Sean Elliott sold 15,000 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $16.13, for a total value of $241,950.00. Following the sale, the insider now directly owns 223,384 shares in the company, valued at $3,603,183.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 296,278 shares of company stock worth $5,013,312. Company insiders own 3.60% of the company’s stock.

Liberty Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Tuesday, September 5th. Liberty Energy’s dividend payout ratio (DPR) is presently 5.93%.

Liberty Energy Company Profile

(Get Free Report)

Liberty Energy Inc provides hydraulic services and related technologies to onshore oil and natural gas exploration, and production companies in North America. The company offers hydraulic fracturing services including complementary services, such as wireline services, proppant delivery solutions, data analytics, related goods, and technologies; and other services comprising design and pump diagnostic fracture injection test, DFIT and mini-frac analysis, and laboratory services, such as fluid rheology, surfactant, clay control, scaling and biocide testing.