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

Liberty Energy Inc. (NYSE:LBRT) – Investment analysts at Zacks Research reduced their FY2024 EPS estimates for shares of Liberty Energy in a note issued to investors on Monday, April 29th. Zacks Research analyst T. Saha now anticipates that the company will earn $2.50 per share 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) last posted its earnings results on Thursday, April 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Liberty Energy had a net margin of 10.43% and a return on equity of 26.46%. Liberty Energy’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 posted $0.90 EPS.

A number of other equities research analysts also recently weighed in on LBRT. Royal Bank of Canada lifted their target price on Liberty Energy from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Piper Sandler increased their target price 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. Morgan Stanley reaffirmed an “equal weight” rating and set a $24.00 target price on shares of Liberty Energy in a report on Monday, April 22nd. Bank of America increased their price target on Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, TD Cowen raised their price objective on Liberty Energy from $19.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Liberty Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

Liberty Energy Stock Performance

LBRT opened at $23.09 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.48 and a quick ratio of 1.16. The business has a fifty day simple moving average of $21.50 and a 200 day simple moving average of $19.93. Liberty Energy has a 1 year low of $11.62 and a 1 year high of $23.31. The company has a market capitalization of $3.85 billion, a PE ratio of 8.43, a price-to-earnings-growth ratio of 1.16 and a beta of 1.85.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LBRT. EdgeRock Capital LLC acquired a new position in Liberty Energy in the 4th quarter worth about $27,000. Principal Securities Inc. acquired a new stake in shares of Liberty Energy during the fourth quarter valued at about $39,000. Quadrant Capital Group LLC grew its holdings in shares of 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 last quarter. CWM LLC increased its stake in shares of Liberty Energy by 59.7% in the third quarter. CWM LLC now owns 3,166 shares of the company’s stock valued at $59,000 after buying an additional 1,183 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Liberty Energy by 27.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,273 shares of the company’s stock valued at $59,000 after buying an additional 709 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Insider Activity

In other Liberty Energy news, Director William F. Kimble sold 12,459 shares of the business’s stock in a transaction dated 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 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 SEC, which can be accessed through this hyperlink. In related news, CEO Christopher A. Wright sold 20,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $20.27, for a total value of $405,400.00. Following the completion of the transaction, the chief executive officer now owns 2,830,402 shares of the company’s stock, valued at approximately $57,372,248.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William F. Kimble sold 12,459 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $21.55, for a total transaction of $268,491.45. Following the completion of the sale, the director now owns 69,963 shares in the company, valued at approximately $1,507,702.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,459 shares of company stock worth $1,544,491. Insiders own 3.70% of the company’s stock.

Liberty Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Wednesday, June 5th. Liberty Energy’s dividend 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.