Zacks: Brokerages Expect Liberty Oilfield Services Inc (NYSE:LBRT) Will Announce Earnings of $0.30 Per Share

Analysts expect Liberty Oilfield Services Inc (NYSE:LBRT) to post earnings of $0.30 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Liberty Oilfield Services’ earnings, with estimates ranging from $0.24 to $0.36. Liberty Oilfield Services posted earnings per share of $0.49 during the same quarter last year, which indicates a negative year over year growth rate of 38.8%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that Liberty Oilfield Services will report full-year earnings of $1.04 per share for the current fiscal year, with EPS estimates ranging from $0.93 to $1.12. For the next fiscal year, analysts forecast that the business will post earnings of $1.44 per share, with EPS estimates ranging from $0.97 to $2.13. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that cover Liberty Oilfield Services.

Liberty Oilfield Services (NYSE:LBRT) last posted its earnings results on Tuesday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $535.15 million during the quarter, compared to analysts’ expectations of $502.55 million. Liberty Oilfield Services had a return on equity of 16.35% and a net margin of 5.50%.

A number of analysts have recently commented on LBRT shares. Morgan Stanley cut their price target on Liberty Oilfield Services from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. TheStreet upgraded Liberty Oilfield Services from a “d+” rating to a “c-” rating in a report on Thursday, July 11th. ValuEngine lowered Liberty Oilfield Services from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered Liberty Oilfield Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Finally, AltaCorp Capital restated an “outperform” rating on shares of Liberty Oilfield Services in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Liberty Oilfield Services currently has an average rating of “Hold” and an average price target of $22.11.

In other Liberty Oilfield Services news, CFO Michael Stock sold 61,309 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $17.00, for a total transaction of $1,042,253.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Energy Part Riverstone/Carlyle sold 8,000,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $14.61, for a total value of $116,880,000.00. The disclosure for this sale can be found here. Corporate insiders own 6.19% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd increased its position in Liberty Oilfield Services by 12.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 29,210 shares of the company’s stock worth $450,000 after buying an additional 3,158 shares during the last quarter. Albert D Mason Inc. increased its position in Liberty Oilfield Services by 8.0% during the first quarter. Albert D Mason Inc. now owns 47,810 shares of the company’s stock worth $736,000 after buying an additional 3,540 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Liberty Oilfield Services in the second quarter valued at approximately $69,000. Marshall Wace LLP grew its position in shares of Liberty Oilfield Services by 95.7% in the first quarter. Marshall Wace LLP now owns 9,050 shares of the company’s stock valued at $139,000 after purchasing an additional 4,425 shares during the last quarter. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of Liberty Oilfield Services in the first quarter valued at approximately $90,000.

Shares of Liberty Oilfield Services stock traded down $0.05 during trading on Friday, reaching $13.48. The stock had a trading volume of 232,891 shares, compared to its average volume of 774,227. The company has a market cap of $1.57 billion, a P/E ratio of 7.44 and a beta of 2.32. The business’s fifty day simple moving average is $14.48. Liberty Oilfield Services has a 52 week low of $12.32 and a 52 week high of $23.51. The company has a quick ratio of 1.48, a current ratio of 1.75 and a debt-to-equity ratio of 0.25.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.20 annualized dividend and a yield of 1.48%. Liberty Oilfield Services’s payout ratio is presently 11.05%.

About Liberty Oilfield Services

Liberty Oilfield Services Inc provides hydraulic fracturing services to onshore oil and natural gas exploration and production companies in North America. The company offers its services primarily in the Permian Basin, the Eagle Ford Shale, the Denver-Julesburg Basin, the Williston Basin, and the Powder River Basin.

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