Q3 2024 EPS Estimates for Liberty Energy Inc. Reduced by Analyst (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Analysts at Atb Cap Markets reduced their Q3 2024 earnings estimates for shares of Liberty Energy in a research report issued to clients and investors on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now anticipates that the company will post earnings of $0.51 per share for the quarter, down from their previous estimate of $0.61. The consensus estimate for Liberty Energy’s current full-year earnings is $2.18 per share. Atb Cap Markets also issued estimates for Liberty Energy’s Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.93 EPS, Q1 2025 earnings at $0.36 EPS, Q2 2025 earnings at $0.51 EPS, FY2025 earnings at $1.94 EPS, Q1 2026 earnings at $0.42 EPS, Q2 2026 earnings at $0.58 EPS, Q3 2026 earnings at $0.63 EPS and FY2026 earnings at $2.20 EPS.

Liberty Energy (NYSE:LBRT) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis.

A number of other research firms have also weighed in on LBRT. Piper Sandler cut their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Citigroup cut their price target on Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America reduced their price target on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Barclays lowered their price objective on Liberty Energy from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Finally, TD Cowen reduced their target price on shares of Liberty Energy from $21.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Liberty Energy has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Liberty Energy Stock Performance

NYSE LBRT opened at $20.51 on Friday. The company has a market cap of $3.42 billion, a P/E ratio of 7.49, a P/E/G ratio of 1.24 and a beta of 1.68. Liberty Energy has a 1-year low of $16.33 and a 1-year high of $24.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 1.07. The stock has a 50-day moving average of $20.39 and a two-hundred day moving average of $21.38.

Institutional Trading of Liberty Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC acquired a new stake in shares of Liberty Energy in the 1st quarter worth $27,809,000. Hennessy Advisors Inc. boosted its holdings in Liberty Energy by 48.0% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,981,100 shares of the company’s stock valued at $41,385,000 after purchasing an additional 642,700 shares in the last quarter. American Century Companies Inc. increased its position in Liberty Energy by 17.6% during the 2nd quarter. American Century Companies Inc. now owns 3,961,415 shares of the company’s stock worth $82,754,000 after purchasing an additional 594,051 shares during the period. LSV Asset Management raised its stake in shares of Liberty Energy by 60.2% during the 1st quarter. LSV Asset Management now owns 1,437,041 shares of the company’s stock worth $29,775,000 after buying an additional 539,861 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Liberty Energy by 345.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 573,200 shares of the company’s stock valued at $11,974,000 after buying an additional 444,500 shares during the period. 98.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Liberty Energy news, CFO Michael Stock sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $19.23, for a total transaction of $288,450.00. Following the transaction, the chief financial officer now owns 730,207 shares of the company’s stock, valued at approximately $14,041,880.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $19.77, for a total value of $395,400.00. Following the transaction, the chief executive officer now directly owns 2,638,813 shares of the company’s stock, valued at $52,169,333.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Stock sold 15,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $19.23, for a total transaction of $288,450.00. Following the completion of the sale, the chief financial officer now owns 730,207 shares of the company’s stock, valued at approximately $14,041,880.61. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,374 shares of company stock worth $2,037,548. Corporate insiders own 3.60% of the company’s stock.

Liberty Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.07 per share. The ex-dividend date was Friday, September 6th. This represents a $0.28 annualized dividend and a dividend yield of 1.37%. Liberty Energy’s dividend payout ratio is presently 10.22%.

Liberty Energy Company Profile

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, field gas processing and treating, compressed natural gas (CNG) delivery, data analytics, related goods comprising sand mine operations, and technologies; and well site fueling and logistics.