Equities analysts expect that Liquidity Services, Inc. (NASDAQ:LQDT) will announce $53.73 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Liquidity Services’ earnings. The lowest sales estimate is $50.61 million and the highest is $56.85 million. Liquidity Services reported sales of $52.71 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.9%. The company is expected to announce its next earnings report on Thursday, December 5th.
According to Zacks, analysts expect that Liquidity Services will report full-year sales of $221.55 million for the current financial year, with estimates ranging from $218.35 million to $224.75 million. For the next financial year, analysts forecast that the firm will post sales of $237.75 million, with estimates ranging from $235.24 million to $240.26 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Liquidity Services.
Liquidity Services (NASDAQ:LQDT) last posted its earnings results on Thursday, August 1st. The business services provider reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.02. The business had revenue of $56.88 million during the quarter, compared to analyst estimates of $52.17 million. Liquidity Services had a negative return on equity of 8.11% and a negative net margin of 6.84%.
LQDT has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Liquidity Services from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barrington Research reaffirmed a “buy” rating and set a $10.00 target price on shares of Liquidity Services in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $8.38.
LQDT stock traded down $0.15 during mid-day trading on Friday, reaching $6.39. 84,607 shares of the company traded hands, compared to its average volume of 112,884. The stock has a market capitalization of $229.16 million, a P/E ratio of -12.78 and a beta of 1.18. Liquidity Services has a 52-week low of $5.17 and a 52-week high of $9.16. The company has a fifty day moving average price of $6.34.
Several hedge funds and other institutional investors have recently modified their holdings of LQDT. Dimensional Fund Advisors LP grew its holdings in Liquidity Services by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,560,474 shares of the business services provider’s stock valued at $9,629,000 after purchasing an additional 53,078 shares during the period. Geode Capital Management LLC grew its holdings in Liquidity Services by 13.6% during the fourth quarter. Geode Capital Management LLC now owns 276,276 shares of the business services provider’s stock valued at $1,704,000 after purchasing an additional 33,047 shares during the period. Principal Financial Group Inc. grew its holdings in Liquidity Services by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 214,838 shares of the business services provider’s stock valued at $1,326,000 after purchasing an additional 7,339 shares during the period. Two Sigma Investments LP grew its holdings in Liquidity Services by 31.5% during the fourth quarter. Two Sigma Investments LP now owns 58,413 shares of the business services provider’s stock valued at $360,000 after purchasing an additional 13,976 shares during the period. Finally, Bank of America Corp DE grew its holdings in Liquidity Services by 152.4% during the fourth quarter. Bank of America Corp DE now owns 32,569 shares of the business services provider’s stock valued at $201,000 after purchasing an additional 19,663 shares during the period. 67.21% of the stock is owned by institutional investors.
About Liquidity Services
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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