Equities Analysts Set Expectations for Liberty Energy Inc.’s FY2024 Earnings (NYSE:LBRT)

Liberty Energy Inc. (NYSE:LBRT) – Research analysts at Zacks Research decreased their FY2024 earnings per share estimates for Liberty Energy in a report issued on Monday, April 29th. Zacks Research analyst T. Saha now anticipates that the company will post earnings per share of $2.50 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.

LBRT has been the subject of several other reports. Barclays increased their price objective on Liberty Energy from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Morgan Stanley restated an “equal weight” rating and set a $24.00 price target on shares of Liberty Energy in a report on Monday, April 22nd. Piper Sandler upped their price objective 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. Wells Fargo & Company boosted their price target on shares of Liberty Energy from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Bank of America increased their price objective on Liberty Energy from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.30.

Liberty Energy Stock Performance

Shares of LBRT opened at $23.09 on Tuesday. The company has a 50-day moving average of $21.50 and a two-hundred day moving average of $19.93. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 1.16 and a beta of 1.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.48 and a quick ratio of 1.16. Liberty Energy has a one year low of $11.62 and a one year high of $23.31.

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 the consensus estimate 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 business’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 earnings per share.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. EdgeRock Capital LLC acquired a new stake in shares of Liberty Energy during the fourth quarter worth approximately $27,000. Principal Securities Inc. bought a new stake in Liberty Energy during the 4th quarter worth approximately $39,000. Quadrant Capital Group LLC increased its holdings in Liberty Energy by 70.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,909 shares of the company’s stock valued at $53,000 after purchasing an additional 1,206 shares in the last quarter. CWM LLC raised its position in Liberty Energy by 59.7% in 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 last quarter. Finally, PNC Financial Services Group Inc. grew 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 purchasing an additional 709 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Liberty Energy

In other Liberty Energy news, Director William F. Kimble sold 12,459 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $21.55, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William F. Kimble sold 12,459 shares of the 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 completion of the transaction, the director now owns 69,963 shares in the company, valued at approximately $1,507,702.65. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher A. Wright sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.27, for a total transaction of $405,400.00. Following the transaction, the chief executive officer now directly owns 2,830,402 shares of the company’s stock, valued at $57,372,248.54. The disclosure for this sale can be found here. Over 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.21%. Liberty Energy’s payout ratio is 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.