Equities research analysts expect that Liquidity Services, Inc. (NASDAQ:LQDT) will report sales of $53.48 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Liquidity Services' earnings. The highest sales estimate is $57.32 million and the lowest is $49.65 million. Liquidity Services reported sales of $58.80 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 9%. The firm is scheduled to issue its next earnings report on Tuesday, December 8th.
On average, analysts expect that Liquidity Services will report full year sales of $203.56 million for the current fiscal year, with estimates ranging from $199.70 million to $207.42 million. For the next fiscal year, analysts anticipate that the business will report sales of $233.70 million, with estimates ranging from $224.63 million to $242.76 million. Zacks' sales calculations are a mean average based on a survey of analysts that that provide coverage for Liquidity Services.
Liquidity Services (NASDAQ:LQDT) last released its earnings results on Thursday, August 6th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.15) by $0.20. The firm had revenue of $47.72 million during the quarter, compared to analysts' expectations of $40.65 million. Liquidity Services had a negative return on equity of 7.13% and a negative net margin of 6.92%.
A number of research firms have issued reports on LQDT. TheStreet upgraded Liquidity Services from a "d+" rating to a "c-" rating in a report on Thursday, August 27th. Robert W. Baird raised their price objective on Liquidity Services from $7.00 to $8.00 in a report on Tuesday, September 29th. Zacks Investment Research upgraded Liquidity Services from a "hold" rating to a "buy" rating and set a $7.00 price objective for the company in a report on Wednesday, August 12th. ValuEngine upgraded Liquidity Services from a "hold" rating to a "buy" rating in a report on Friday, July 17th. Finally, BidaskClub upgraded Liquidity Services from a "sell" rating to a "hold" rating in a report on Thursday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Liquidity Services has an average rating of "Buy" and an average price target of $8.33.
LQDT stock opened at $9.97 on Friday. The stock has a 50-day moving average price of $7.98 and a two-hundred day moving average price of $6.16. The stock has a market cap of $339.43 million, a PE ratio of -23.19 and a beta of 1.16. Liquidity Services has a 1 year low of $3.01 and a 1 year high of $11.34.
In other news, CEO William P. Angrick III bought 45,373 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The stock was acquired at an average cost of $7.42 per share, for a total transaction of $336,667.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sam Guzman sold 10,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $5.16, for a total transaction of $51,600.00. Following the completion of the sale, the chief accounting officer now owns 10,000 shares of the company's stock, valued at $51,600. The disclosure for this sale can be found here. 21.82% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of LQDT. Bank of Montreal Can lifted its stake in Liquidity Services by 58.5% in the 2nd quarter. Bank of Montreal Can now owns 4,951 shares of the business services provider's stock valued at $27,000 after purchasing an additional 1,827 shares during the last quarter. Royal Bank of Canada lifted its stake in Liquidity Services by 129.5% in the 1st quarter. Royal Bank of Canada now owns 12,411 shares of the business services provider's stock valued at $48,000 after purchasing an additional 7,002 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Liquidity Services during the first quarter worth approximately $53,000. Quadrature Capital Ltd acquired a new stake in Liquidity Services during the second quarter worth approximately $63,000. Finally, Leap Investments LP acquired a new stake in Liquidity Services during the second quarter worth approximately $75,000. Institutional investors and hedge funds own 65.09% of the company's stock.
Liquidity Services Company Profile
Liquidity Services, Inc provides e-commerce marketplace that enable buyers and sellers to transact in an automated environment offering approximately 500 product categories. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and capital assets; govdeals.com and auctionDeals.com provides self-directed service solutions in which sellers list their own assets that enables local and state government entities, including city, county, state agencies, as well as commercial businesses located in the United States and Canada to sell surplus and salvage assets, as well as offers a suite of services that includes asset sales and marketing.
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