Wall Street brokerages expect that Liquidity Services, Inc. (NASDAQ:LQDT) will post $52.17 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Liquidity Services’ earnings, with the lowest sales estimate coming in at $49.01 million and the highest estimate coming in at $55.32 million. Liquidity Services posted sales of $50.57 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The business is scheduled to report its next quarterly earnings report on Thursday, August 1st.
According to Zacks, analysts expect that Liquidity Services will report full year sales of $216.19 million for the current year, with estimates ranging from $210.48 million to $221.90 million. For the next year, analysts expect that the firm will post sales of $235.37 million, with estimates ranging from $235.14 million to $235.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Liquidity Services.
Liquidity Services (NASDAQ:LQDT) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.10. Liquidity Services had a negative return on equity of 8.62% and a negative net margin of 7.26%. The firm had revenue of $37.36 million during the quarter, compared to analyst estimates of $56.92 million.
LQDT has been the subject of several research reports. BidaskClub upgraded Liquidity Services from a “hold” rating to a “buy” rating in a research note on Thursday, March 21st. ValuEngine lowered Liquidity Services from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. TheStreet lowered Liquidity Services from a “c” rating to a “d+” rating in a research note on Monday, April 15th. Finally, Zacks Investment Research lowered Liquidity Services from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 18th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $8.75.
In other news, insider James M. Rallo sold 4,908 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $6.93, for a total transaction of $34,012.44. Following the transaction, the insider now directly owns 4,908 shares in the company, valued at approximately $34,012.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 18.70% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Liquidity Services by 113.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,679 shares of the business services provider’s stock worth $29,000 after purchasing an additional 1,952 shares during the last quarter. Bank of Montreal Can lifted its holdings in Liquidity Services by 81.7% in the first quarter. Bank of Montreal Can now owns 5,019 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 2,256 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Liquidity Services by 510.7% in the first quarter. BNP Paribas Arbitrage SA now owns 5,557 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 4,647 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Liquidity Services in the fourth quarter valued at approximately $45,000. Finally, Oregon Public Employees Retirement Fund acquired a new position in Liquidity Services in the fourth quarter valued at approximately $62,000. Institutional investors and hedge funds own 67.76% of the company’s stock.
Shares of Liquidity Services stock traded up $0.06 on Wednesday, hitting $6.09. The company’s stock had a trading volume of 421,358 shares, compared to its average volume of 87,316. Liquidity Services has a 1 year low of $5.17 and a 1 year high of $9.16. The firm’s fifty day moving average is $6.08. The firm has a market cap of $201.98 million, a P/E ratio of -12.18 and a beta of 1.20.
Liquidity Services Company Profile
Liquidity Services, Inc provides e-commerce marketplace that enable buyers and sellers to transact in an automated environment offering approximately 500 product categories. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and capital assets; govdeals.com that enables local and state government entities, including city, county, and state agencies to sell surplus and salvage assets, as well as offers a suite of services that includes asset sales and marketing, and seller self-service; and auctiondeals.com, a self-service solution, which enable sellers list their own assets, and enable commercial businesses to sell surplus and salvage assets.
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