FY2018 Earnings Forecast for Libbey Inc. (LBY) Issued By Dougherty & Co

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Libbey Inc. (NYSEAMERICAN:LBY) – Research analysts at Dougherty & Co dropped their FY2018 earnings per share (EPS) estimates for shares of Libbey in a research note issued to investors on Thursday, November 8th. Dougherty & Co analyst J. Hamblin now expects that the company will post earnings per share of $0.17 for the year, down from their prior forecast of $0.44. Dougherty & Co has a “Buy” rating and a $12.00 price target on the stock. Dougherty & Co also issued estimates for Libbey’s FY2019 earnings at $0.56 EPS.

Separately, Zacks Investment Research downgraded Libbey from a “hold” rating to a “strong sell” rating in a report on Tuesday.

Shares of LBY stock opened at $6.68 on Monday. Libbey has a 1 year low of $4.60 and a 1 year high of $11.54.

Libbey (NYSEAMERICAN:LBY) last posted its earnings results on Tuesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.37). The business had revenue of $191.56 million during the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in shares of Libbey by 54.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,014,535 shares of the company’s stock valued at $16,376,000 after purchasing an additional 708,430 shares during the period. Boston Partners grew its holdings in shares of Libbey by 39.0% in the second quarter. Boston Partners now owns 1,089,391 shares of the company’s stock valued at $8,856,000 after purchasing an additional 305,581 shares during the period. Millennium Management LLC purchased a new stake in shares of Libbey in the second quarter valued at about $2,143,000. EAM Investors LLC purchased a new stake in shares of Libbey in the third quarter valued at about $1,571,000. Finally, BlackRock Inc. boosted its stake in Libbey by 63.2% during the third quarter. BlackRock Inc. now owns 438,014 shares of the company’s stock worth $3,832,000 after buying an additional 169,676 shares during the period.

About Libbey

Libbey Inc designs, produces, and sells tableware and other products worldwide. It offers glass tableware products, including tumblers, stemware, mugs, bowls, vases, salt and pepper shakers, shot glasses, canisters, candleholders, and other items; storage ware; serve ware; bakeware; handmade glass tableware; and other components for original equipment manufacturers, such as blender jars and mixing bowls.

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