Liberty Energy FY2024 EPS Estimate Lowered by Zacks Research

Liberty Energy Inc. (NYSE:LBRT - Free Report) - Research analysts at Zacks Research decreased their FY2024 earnings per share estimates for Liberty Energy in a note issued to investors on Monday, December 2nd. Zacks Research analyst R. Department now expects that the company will earn $1.70 per share for the year, down from their previous estimate of $1.71. The consensus estimate for Liberty Energy's current full-year earnings is $1.75 per share. Zacks Research also issued estimates for Liberty Energy's Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.29 EPS, Q3 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.12 EPS, Q1 2026 earnings at $0.32 EPS, Q2 2026 earnings at $0.32 EPS, Q3 2026 earnings at $0.51 EPS and FY2026 earnings at $1.65 EPS.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.10). The company 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 18.50% and a net margin of 8.02%. The company's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 EPS.

A number of other analysts have also recently commented on the company. Wells Fargo & Company dropped their price objective on Liberty Energy from $25.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, October 18th. Stifel Nicolaus decreased their price target on Liberty Energy from $26.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, October 18th. Atb Cap Markets lowered Liberty Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 17th. Royal Bank of Canada decreased their price target on Liberty Energy from $26.00 to $23.00 and set an "outperform" rating on the stock in a research note on Friday, October 18th. Finally, Evercore ISI raised Liberty Energy to a "strong-buy" rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.89.

Liberty Energy Price Performance

Liberty Energy stock traded down $0.24 during midday trading on Wednesday, reaching $18.32. 1,652,055 shares of the company were exchanged, compared to its average volume of 2,518,632. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 8.71 and a beta of 1.71. The firm's 50-day simple moving average is $18.50 and its 200-day simple moving average is $20.27. Liberty Energy has a 1 year low of $16.57 and a 1 year high of $24.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 1.23.

Institutional Investors Weigh In On Liberty Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. EdgeRock Capital LLC bought a new stake in shares of Liberty Energy in the 2nd quarter valued at approximately $32,000. Covestor Ltd boosted its position in Liberty Energy by 96.8% during the 3rd quarter. Covestor Ltd now owns 1,704 shares of the company's stock valued at $33,000 after purchasing an additional 838 shares during the period. GAMMA Investing LLC boosted its position in Liberty Energy by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,743 shares of the company's stock valued at $36,000 after purchasing an additional 713 shares during the period. Quarry LP boosted its position in Liberty Energy by 237.5% during the 3rd quarter. Quarry LP now owns 1,991 shares of the company's stock valued at $38,000 after purchasing an additional 1,401 shares during the period. Finally, nVerses Capital LLC boosted its position in Liberty Energy by 45.0% during the 2nd quarter. nVerses Capital LLC now owns 2,900 shares of the company's stock valued at $61,000 after purchasing an additional 900 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Liberty Energy 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 directly owns 745,207 shares in the company, valued at $15,656,799.07. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher A. Wright sold 2,037 shares of Liberty Energy stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.15, for a total value of $36,971.55. Following the sale, the chief executive officer now owns 2,578,813 shares in the company, valued at $46,805,455.95. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,037 shares of company stock valued at $1,796,552 in the last three months. Corporate insiders own 3.70% of the company's stock.

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 paid a $0.08 dividend. This is a positive change from Liberty Energy's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, December 6th. Liberty Energy's payout ratio is currently 13.33%.

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.