Brokers Set Expectations for Liberty Energy Inc.’s Q2 2024 Earnings (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Equities researchers at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for shares of Liberty Energy in a report issued on Thursday, April 25th. Zacks Research analyst T. Saha now anticipates that the company will post earnings of $0.64 per share for the quarter, down from their previous forecast of $0.67. The consensus estimate for Liberty Energy’s current full-year earnings is $2.54 per share. Zacks Research also issued estimates for Liberty Energy’s Q4 2024 earnings at $0.66 EPS, FY2024 earnings at $2.54 EPS, Q2 2025 earnings at $0.78 EPS, Q4 2025 earnings at $0.75 EPS, FY2025 earnings at $2.99 EPS and FY2026 earnings at $3.26 EPS.

Liberty Energy (NYSE:LBRT) last posted its quarterly earnings results on Thursday, April 18th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.06). Liberty Energy had a return on equity of 26.46% and a net margin of 10.43%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was down 12.8% on a year-over-year basis.

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company upped their price target on Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Bank of America lifted their price target on shares of Liberty Energy from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Piper Sandler boosted their price target on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Barclays raised their price objective on shares of Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $24.00 target price on shares of Liberty Energy in a report on Monday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.30.

Liberty Energy Stock Up 1.1 %

NYSE LBRT opened at $23.01 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 1.14 and a beta of 1.85. Liberty Energy has a 1-year low of $11.62 and a 1-year high of $23.31. The stock’s 50 day moving average is $21.43 and its two-hundred day moving average is $19.84.

Institutional Investors Weigh In On Liberty Energy

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Liberty Energy by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company’s stock worth $380,522,000 after buying an additional 893,563 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Liberty Energy by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,443,849 shares of the company’s stock valued at $171,314,000 after buying an additional 404,211 shares during the period. Pacer Advisors Inc. increased its position in shares of Liberty Energy by 93.9% during the fourth quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company’s stock worth $83,210,000 after acquiring an additional 2,221,588 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Liberty Energy by 53.1% during the third quarter. Bank of New York Mellon Corp now owns 2,244,480 shares of the company’s stock worth $41,568,000 after acquiring an additional 778,111 shares during the period. Finally, American Century Companies Inc. boosted its stake in Liberty Energy by 12.4% in the 3rd quarter. American Century Companies Inc. now owns 2,241,076 shares of the company’s stock worth $41,505,000 after purchasing an additional 247,074 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Ryan T. Gosney sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total value of $123,000.00. Following the transaction, the chief accounting officer now owns 140,706 shares of the company’s stock, valued at approximately $2,884,473. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Christopher A. Wright sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $22.66, for a total transaction of $453,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,858,814 shares in the company, valued at approximately $64,780,725.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Ryan T. Gosney sold 6,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $123,000.00. Following the completion of the sale, the chief accounting officer now owns 140,706 shares in the company, valued at $2,884,473. The disclosure for this sale can be found here. Insiders sold a total of 98,459 shares of company stock worth $2,077,491 over the last three months. 3.60% of the stock is currently owned by company insiders.

Liberty Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, June 5th. Liberty Energy’s dividend payout ratio is 10.22%.

About Liberty Energy

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.