Wall Street analysts expect that Liberty Oilfield Services Inc (NYSE:LBRT) will report $581.37 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Liberty Oilfield Services’ earnings, with estimates ranging from $554.66 million to $603.00 million. The company is scheduled to announce its next earnings report on Wednesday, November 7th.
On average, analysts expect that Liberty Oilfield Services will report full-year sales of $2.27 billion for the current year, with estimates ranging from $2.19 billion to $2.29 billion. For the next year, analysts forecast that the business will post sales of $2.41 billion per share, with estimates ranging from $2.28 billion to $2.69 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Liberty Oilfield Services.
Liberty Oilfield Services (NYSE:LBRT) last released its quarterly earnings results on Wednesday, August 1st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.13. The firm had revenue of $628.08 million for the quarter, compared to analyst estimates of $543.64 million.
Several brokerages have recently weighed in on LBRT. Citigroup increased their price objective on shares of Liberty Oilfield Services from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Piper Jaffray Companies reiterated a “buy” rating and set a $30.00 price objective on shares of Liberty Oilfield Services in a report on Thursday, August 9th. Zacks Investment Research upgraded shares of Liberty Oilfield Services from a “sell” rating to a “hold” rating in a report on Wednesday, June 13th. Tudor Pickering lowered shares of Liberty Oilfield Services from a “buy” rating to a “hold” rating in a report on Friday, June 8th. Finally, Morgan Stanley increased their price objective on shares of Liberty Oilfield Services from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $28.75.
Several hedge funds have recently made changes to their positions in the company. Carlyle Group L.P. purchased a new position in Liberty Oilfield Services in the first quarter valued at approximately $851,337,000. FMR LLC raised its holdings in Liberty Oilfield Services by 263.1% in the second quarter. FMR LLC now owns 4,324,150 shares of the company’s stock valued at $80,949,000 after buying an additional 3,133,409 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Liberty Oilfield Services in the first quarter valued at approximately $42,284,000. Franklin Resources Inc. purchased a new position in Liberty Oilfield Services in the first quarter valued at approximately $26,341,000. Finally, BlackRock Inc. purchased a new position in Liberty Oilfield Services in the first quarter valued at approximately $25,770,000.
Shares of Liberty Oilfield Services stock traded down $1.32 during mid-day trading on Monday, hitting $17.01. 743,318 shares of the stock were exchanged, compared to its average volume of 604,532. Liberty Oilfield Services has a twelve month low of $16.00 and a twelve month high of $23.90. The stock has a market capitalization of $2.32 billion and a P/E ratio of 20.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.52 and a quick ratio of 2.22.
The business also recently disclosed a special dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, September 6th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, September 5th.
Liberty Oilfield Services Company Profile
Liberty Oilfield Services Inc provides hydraulic fracturing services to onshore oil and natural gas exploration and production companies in North America. It provides 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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