Liberty Energy Inc. (NYSE:LBRT) Expected to Post Q2 2024 Earnings of $0.64 Per Share

Liberty Energy Inc. (NYSE:LBRT) – Equities research analysts at Zacks Research decreased their Q2 2024 EPS estimates for Liberty Energy in a research note issued on Thursday, April 25th. Zacks Research analyst T. Saha now expects that the company will post earnings per share of $0.64 for the quarter, down from their prior estimate of $0.67. 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 $0.66 EPS, FY2024 earnings at $2.54 EPS, Q2 2025 earnings at $0.78 EPS, Q4 2025 earnings at $0.75 EPS, FY2025 earnings at $2.99 EPS and FY2026 earnings at $3.26 EPS.

Liberty Energy (NYSE:LBRT) last released its quarterly earnings data 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 net margin of 10.43% and a return on equity of 26.46%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.90 earnings per share. The firm’s quarterly revenue was down 12.8% on a year-over-year basis.

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. TD Cowen increased their target price on shares of Liberty Energy from $19.00 to $21.00 and gave the company a “hold” rating in a report on Friday, April 19th. Royal Bank of Canada increased their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Morgan Stanley reiterated an “equal weight” rating and issued a $24.00 target price on shares of Liberty Energy in a report on Monday, April 22nd. Finally, Barclays increased their target price on shares of Liberty Energy from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Liberty Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Liberty Energy Price Performance

Liberty Energy stock opened at $23.01 on Friday. 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 $3.84 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 1.16 and a beta of 1.85. The firm’s fifty day moving average price is $21.46 and its two-hundred day moving average price is $19.87. The company has a current ratio of 1.48, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17.

Liberty Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given 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 1.22%. Liberty Energy’s dividend payout ratio (DPR) is currently 10.22%.

Insider Activity

In other Liberty Energy news, insider R Sean Elliott sold 20,000 shares of Liberty Energy stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.50, for a total transaction of $410,000.00. Following the completion of the sale, the insider now directly owns 218,530 shares in the company, valued at $4,479,865. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director William F. Kimble sold 12,459 shares of Liberty Energy stock in a transaction on Friday, March 8th. The shares were sold at an average price of $21.55, for a total value of $268,491.45. Following 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 SEC, which can be accessed through this link. Also, insider R Sean Elliott sold 20,000 shares of Liberty Energy stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.50, for a total transaction of $410,000.00. Following the completion of the transaction, the insider now directly owns 218,530 shares in the company, valued at $4,479,865. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,459 shares of company stock worth $2,077,491. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. CWM LLC increased its position in Liberty Energy by 59.7% during the 3rd quarter. CWM LLC now owns 3,166 shares of the company’s stock valued at $59,000 after purchasing an additional 1,183 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Liberty Energy during the 3rd quarter valued at $1,787,000. HGK Asset Management Inc. bought a new stake in shares of Liberty Energy during the 3rd quarter valued at $330,000. Maryland State Retirement & Pension System bought a new stake in shares of Liberty Energy during the 3rd quarter valued at $1,058,000. Finally, Dakota Wealth Management bought a new stake in shares of Liberty Energy during the 3rd quarter valued at $223,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

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.