FY2024 Earnings Estimate for Liberty Energy Inc. (NYSE:LBRT) Issued By Zacks Research

Liberty Energy Inc. (NYSE:LBRT - Free Report) - Equities researchers at Zacks Research decreased their FY2024 earnings per share estimates for shares of Liberty Energy in a research note issued to investors on Monday, April 29th. Zacks Research analyst T. Saha now forecasts that the company will post earnings per share of $2.50 for the year, down from their prior estimate of $2.54. The consensus estimate for Liberty Energy's current full-year earnings is $2.53 per share. Zacks Research also issued estimates for Liberty Energy's Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.77 EPS, FY2025 earnings at $3.00 EPS and FY2026 earnings at $3.30 EPS.

Liberty Energy (NYSE:LBRT - Get Free Report) last posted its 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.90 EPS. The business's quarterly revenue was down 12.8% compared to the same quarter last year.

Several other equities research analysts have also recently weighed in on LBRT. Piper Sandler increased their price objective on shares of Liberty Energy from $27.00 to $28.00 and gave the stock an "overweight" rating in a research report on Friday, January 26th. Bank of America boosted their price objective on Liberty Energy from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Monday, April 15th. Royal Bank of Canada raised their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an "outperform" rating in a research note on Friday, April 19th. Barclays increased their price target on Liberty Energy from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, April 19th. Finally, Wells Fargo & Company boosted their target price on shares of Liberty Energy from $24.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Liberty Energy presently has an average rating of "Moderate Buy" and a consensus target price of $24.30.

Liberty Energy Trading Down 4.7 %

LBRT traded down $1.08 during midday trading on Tuesday, hitting $22.01. 2,805,834 shares of the company were exchanged, compared to its average volume of 2,944,129. The firm's 50 day moving average price is $21.52 and its 200-day moving average price is $19.95. Liberty Energy has a 1-year low of $11.62 and a 1-year high of $23.31. The firm has a market capitalization of $3.67 billion, a P/E ratio of 8.03, a P/E/G ratio of 1.16 and a beta of 1.85. The company has a quick ratio of 1.16, a current ratio of 1.48 and a debt-to-equity ratio of 0.17.

Liberty Energy Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Wednesday, June 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.27%. Liberty Energy's dividend payout ratio is presently 10.22%.

Insiders Place Their Bets

In other Liberty Energy news, Director William F. Kimble sold 12,459 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $21.55, for a total value of $268,491.45. Following the completion of the sale, the director now directly owns 69,963 shares of the company's stock, valued at approximately $1,507,702.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Liberty Energy news, insider R Sean Elliott sold 20,000 shares of the business's stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $23.10, for a total value of $462,000.00. Following the transaction, the insider now directly owns 259,108 shares in the company, valued at $5,985,394.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William F. Kimble sold 12,459 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $21.55, for a total transaction of $268,491.45. Following the sale, the director now owns 69,963 shares of the company's stock, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,459 shares of company stock valued at $3,155,991. Corporate insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its position in shares of Liberty Energy by 93.9% in the fourth quarter. Pacer Advisors Inc. now owns 4,587,073 shares of the company's stock valued at $83,210,000 after acquiring an additional 2,221,588 shares during the period. Invesco Ltd. increased its stake in Liberty Energy by 455.5% in the 3rd quarter. Invesco Ltd. now owns 1,536,812 shares of the company's stock worth $28,462,000 after acquiring an additional 1,260,142 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Liberty Energy during the 4th quarter valued at about $21,278,000. Vanguard Group Inc. grew its holdings in shares of Liberty Energy by 4.5% during the third quarter. Vanguard Group Inc. now owns 20,546,529 shares of the company's stock worth $380,522,000 after purchasing an additional 893,563 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Liberty Energy by 4,473.9% in the third quarter. Principal Financial Group Inc. now owns 836,470 shares of the company's stock worth $15,491,000 after purchasing an additional 818,182 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

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.