Q3 EPS Estimates for Liberty Energy Cut by Zacks Research

Liberty Energy Inc. (NYSE:LBRT) – Equities researchers at Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for shares of Liberty Energy in a research report issued to clients and investors on Monday, October 14th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $0.57 for the quarter, down from their prior forecast of $0.59. The consensus estimate for Liberty Energy’s current full-year earnings is $2.14 per share. Zacks Research also issued estimates for Liberty Energy’s Q3 2026 earnings at $0.73 EPS.

A number of other research analysts have also commented on LBRT. Piper Sandler lowered their price objective on Liberty Energy from $28.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Bank of America lowered their price objective on Liberty Energy from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Citigroup lowered their target price on Liberty Energy from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Barclays lowered their target price on Liberty Energy from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, TD Cowen lowered their target price on 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 six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Liberty Energy Stock Performance

Shares of NYSE LBRT opened at $18.30 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.35. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 6.68, a P/E/G ratio of 1.20 and a beta of 1.68. The business’s 50-day simple moving average is $20.12 and its 200-day simple moving average is $21.36. Liberty Energy has a 52 week low of $16.69 and a 52 week high of $24.75.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.10). The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Liberty Energy had a return on equity of 22.85% and a net margin of 9.53%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the business earned $0.85 earnings per share.

Hedge Funds Weigh In On Liberty Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its position in shares of 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 buying an additional 594,051 shares during the period. Bank of New York Mellon Corp raised its position in Liberty Energy by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,634,256 shares of the company’s stock valued at $55,030,000 after purchasing an additional 67,362 shares during the last quarter. Hennessy Advisors Inc. raised its position 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 during the last quarter. LSV Asset Management raised its position in Liberty Energy by 19.5% in the 2nd quarter. LSV Asset Management now owns 1,717,591 shares of the company’s stock valued at $35,880,000 after purchasing an additional 280,550 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Liberty Energy by 34.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,498,921 shares of the company’s stock valued at $31,312,000 after purchasing an additional 381,841 shares during the last quarter. Institutional investors own 98.22% of the company’s stock.

Insider Transactions at Liberty Energy

In other news, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. Following the sale, the chief financial officer now owns 745,207 shares of the company’s stock, valued at approximately $15,656,799.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Michael Stock sold 5,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $21.01, for a total transaction of $105,050.00. Following the sale, the chief financial officer now owns 745,207 shares of the company’s stock, valued at approximately $15,656,799.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. Wright sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $19.77, for a total value of $395,400.00. Following the sale, the chief executive officer now directly owns 2,638,813 shares in the company, valued at $52,169,333.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,000 shares of company stock valued at $1,945,650. 3.60% of the stock is owned by corporate insiders.

Liberty Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, December 6th. This is a positive change from Liberty Energy’s previous quarterly dividend of $0.07. Liberty Energy’s dividend payout ratio (DPR) is presently 11.68%.

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.