Brokerages Expect Liberty Oilfield Services Inc (LBRT) Will Announce Earnings of $0.58 Per Share

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Equities research analysts forecast that Liberty Oilfield Services Inc (NYSE:LBRT) will report earnings of $0.58 per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Liberty Oilfield Services’ earnings, with estimates ranging from $0.53 to $0.60. The business is scheduled to announce its next earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Liberty Oilfield Services will report full year earnings of $2.34 per share for the current fiscal year, with EPS estimates ranging from $2.29 to $2.39. For the next financial year, analysts forecast that the business will report earnings of $1.78 per share, with EPS estimates ranging from $1.01 to $2.20. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Liberty Oilfield Services.

Liberty Oilfield Services (NYSE:LBRT) last posted its quarterly earnings data on Wednesday, August 1st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. The business had revenue of $628.08 million during the quarter, compared to analysts’ expectations of $543.64 million.

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Liberty Oilfield Services from $31.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday. Tudor Pickering cut shares of Liberty Oilfield Services from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Stifel Nicolaus assumed coverage on shares of Liberty Oilfield Services in a research note on Monday, September 10th. They set a “buy” rating and a $21.00 target price on the stock. Citigroup reduced their price objective on shares of Liberty Oilfield Services from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, July 9th. Finally, Zacks Investment Research upgraded shares of Liberty Oilfield Services from a “sell” rating to a “hold” rating in a research report on Wednesday, June 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Liberty Oilfield Services presently has an average rating of “Buy” and an average price target of $27.44.

LBRT opened at $21.78 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 2.22 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.53 billion and a P/E ratio of 24.75. Liberty Oilfield Services has a 12-month low of $16.00 and a 12-month high of $23.90.

The business also recently disclosed a special dividend, which was paid on Thursday, September 20th. Stockholders of record on Thursday, September 6th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, September 5th. Liberty Oilfield Services’s payout ratio is currently 22.73%.

In other news, Director Energy Part Riverstone/Carlyle sold 2,491,160 shares of Liberty Oilfield Services stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $18.96, for a total transaction of $47,232,393.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Carlyle Group L.P. purchased a new position in Liberty Oilfield Services during the first quarter worth $851,337,000. FMR LLC boosted its stake in Liberty Oilfield Services by 263.1% during the second quarter. FMR LLC now owns 4,324,150 shares of the company’s stock worth $80,949,000 after buying an additional 3,133,409 shares during the period. Franklin Resources Inc. purchased a new position in Liberty Oilfield Services during the first quarter worth $26,341,000. BlackRock Inc. purchased a new position in Liberty Oilfield Services during the first quarter worth $25,770,000. Finally, Wells Fargo & Company MN purchased a new position in Liberty Oilfield Services during the first quarter worth $16,013,000.

About Liberty Oilfield Services

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.

See Also: Hedge Funds

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Earnings History and Estimates for Liberty Oilfield Services (NYSE:LBRT)

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