Research Analysts Issue Forecasts for Liberty Energy Inc.’s FY2024 Earnings (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Research analysts at Zacks Research lowered their FY2024 earnings estimates for shares of Liberty Energy in a research report issued to clients and investors on Monday, April 29th. Zacks Research analyst T. Saha now expects that the company will earn $2.50 per share for the year, down from their previous forecast 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.

Other analysts also recently issued reports about the stock. Morgan Stanley reissued an “equal weight” rating and issued a $24.00 price target on shares of Liberty Energy in a report on Monday, April 22nd. Piper Sandler lifted their target price on shares of Liberty Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Bank of America increased their price objective on shares of Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Barclays lifted their target price on Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, 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 note on Friday, April 19th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.30.

Liberty Energy Price Performance

NYSE LBRT opened at $22.01 on Tuesday. Liberty Energy has a twelve month low of $11.62 and a twelve month high of $23.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.48. The stock has a market capitalization of $3.67 billion, a PE ratio of 8.03, a P/E/G ratio of 1.16 and a beta of 1.85. The stock has a 50-day simple moving average of $21.52 and a 200 day simple moving average of $19.95.

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

Institutional Trading of Liberty Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in shares of Liberty Energy during the 4th quarter worth approximately $27,000. Principal Securities Inc. bought a new stake in Liberty Energy in the 4th quarter valued at $39,000. Quadrant Capital Group LLC boosted its position in Liberty Energy by 70.8% during the fourth quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock worth $53,000 after purchasing an additional 1,206 shares during the period. CWM LLC boosted its holdings in shares of Liberty Energy by 59.7% during the 3rd quarter. CWM LLC now owns 3,166 shares of the company’s stock worth $59,000 after buying an additional 1,183 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Liberty Energy by 27.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock worth $59,000 after acquiring an additional 709 shares during the period. 98.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Liberty Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, June 5th. Liberty Energy’s payout ratio is presently 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.