Livent Co. (NYSE:LTHM – Get Rating) – Equities researchers at KeyCorp raised their Q3 2022 earnings estimates for shares of Livent in a report issued on Wednesday, August 3rd. KeyCorp analyst A. Yefremov now forecasts that the company will post earnings per share of $0.44 for the quarter, up from their previous forecast of $0.36. The consensus estimate for Livent’s current full-year earnings is $1.29 per share.
Several other analysts also recently weighed in on LTHM. TheStreet downgraded shares of Livent from a “b” rating to a “c+” rating in a research report on Thursday, July 7th. Mizuho dropped their price target on shares of Livent from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday. Cowen upgraded shares of Livent from a “market perform” rating to an “outperform” rating in a research report on Wednesday, May 4th. Cowen upgraded shares of Livent from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $25.00 to $33.00 in a report on Wednesday, May 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Livent from $29.00 to $24.00 and set a “hold” rating on the stock in a report on Wednesday, July 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.67.
Livent Trading Up 3.6 %
Livent (NYSE:LTHM – Get Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.07. Livent had a net margin of 18.36% and a return on equity of 14.62%. During the same period in the prior year, the firm posted $0.04 EPS.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Livent by 3.2% during the first quarter. BlackRock Inc. now owns 25,674,467 shares of the company’s stock valued at $669,334,000 after purchasing an additional 797,187 shares in the last quarter. Vanguard Group Inc. grew its position in Livent by 0.6% during the first quarter. Vanguard Group Inc. now owns 17,627,545 shares of the company’s stock valued at $459,549,000 after purchasing an additional 109,353 shares in the last quarter. Wellington Management Group LLP grew its position in Livent by 5.7% during the first quarter. Wellington Management Group LLP now owns 7,824,996 shares of the company’s stock valued at $203,997,000 after purchasing an additional 421,082 shares in the last quarter. State Street Corp grew its position in Livent by 3.8% during the first quarter. State Street Corp now owns 5,189,875 shares of the company’s stock valued at $135,300,000 after purchasing an additional 190,369 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Livent by 35.7% in the first quarter. Allianz Asset Management GmbH now owns 2,799,333 shares of the company’s stock worth $72,979,000 after acquiring an additional 736,174 shares in the last quarter. 97.33% of the stock is owned by hedge funds and other institutional investors.
Livent Corporation manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and butyllithium, which is used in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in non-rechargeable batteries and the production of lightweight materials for aerospace applications.
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