Liberty Global (NASDAQ:LILAK) Stock Price Up 12% After Earnings Beat

Liberty Global PLC (NASDAQ:LILAK)’s share price shot up 12% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $8.98 and last traded at $8.9690. 229,946 shares changed hands during trading, a decline of 80% from the average session volume of 1,132,014 shares. The stock had previously closed at $8.01.

The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Liberty Global had a negative return on equity of 71.58% and a negative net margin of 26.61%.The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion.

Wall Street Analyst Weigh In

LILAK has been the subject of several analyst reports. Scotiabank boosted their target price on Liberty Global from $5.10 to $8.20 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Liberty Global in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $7.85.

Institutional Investors Weigh In On Liberty Global

Several institutional investors have recently added to or reduced their stakes in LILAK. Raymond James Financial Inc. bought a new position in shares of Liberty Global in the 2nd quarter valued at about $30,000. PNC Financial Services Group Inc. grew its position in shares of Liberty Global by 45.2% in the second quarter. PNC Financial Services Group Inc. now owns 5,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,797 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Liberty Global during the third quarter worth about $50,000. Headlands Technologies LLC increased its holdings in Liberty Global by 85.9% in the 2nd quarter. Headlands Technologies LLC now owns 8,515 shares of the company’s stock valued at $53,000 after buying an additional 3,934 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Liberty Global in the 2nd quarter valued at approximately $66,000. 52.98% of the stock is owned by institutional investors.

Liberty Global Stock Performance

The company has a debt-to-equity ratio of 5.00, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $1.76 billion, a P/E ratio of -1.48 and a beta of 1.05. The stock’s fifty day moving average price is $8.13 and its two-hundred day moving average price is $6.86.

About Liberty Global

Liberty Latin America Ltd., together with its subsidiaries, provides fixed, mobile, and subsea telecommunications services. The company operates through C&W Caribbean, C&W Panama, Liberty Networks, Liberty Puerto Rico, and Liberty Costa Rico segments. It offers communications and entertainment services, including video, broadband internet, fixed-line, telephony, and mobiles services to residential and business customers; and business products and services that include enterprise-grade connectivity, data center, hosting, and managed solutions, as well as information technology solutions for small and medium enterprises, international companies, and governmental agencies.