Equities research analysts predict that Liquidity Services, Inc. (NASDAQ:LQDT) will post sales of $53.73 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Liquidity Services’ earnings. The highest sales estimate is $56.85 million and the lowest is $50.61 million. Liquidity Services reported sales of $52.71 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.9%. The company is expected to announce its next earnings results before the market opens on Tuesday, December 10th.
According to Zacks, analysts expect that Liquidity Services will report full-year sales of $221.55 million for the current year, with estimates ranging from $218.35 million to $224.75 million. For the next financial year, analysts forecast that the business will post sales of $237.75 million, with estimates ranging from $235.24 million to $240.26 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Liquidity Services.
A number of brokerages have weighed in on LQDT. Zacks Investment Research lowered shares of Liquidity Services from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. ValuEngine downgraded shares of Liquidity Services from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, BidaskClub cut Liquidity Services from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.63.
LQDT stock traded down $0.06 during trading on Monday, reaching $6.79. 787 shares of the company were exchanged, compared to its average volume of 95,372. The company has a market capitalization of $235.22 million, a price-to-earnings ratio of -13.81 and a beta of 1.10. The company has a 50-day moving average of $6.60 and a two-hundred day moving average of $6.61. Liquidity Services has a twelve month low of $5.49 and a twelve month high of $9.16.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Liquidity Services by 18.4% during the second quarter. JPMorgan Chase & Co. now owns 9,369 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 1,457 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Liquidity Services during the second quarter worth $67,000. Citadel Advisors LLC bought a new stake in shares of Liquidity Services in the second quarter worth $123,000. D. E. Shaw & Co. Inc. grew its stake in shares of Liquidity Services by 10.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 25,018 shares of the business services provider’s stock worth $152,000 after purchasing an additional 2,402 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Liquidity Services by 124.6% in the third quarter. State of Alaska Department of Revenue now owns 20,616 shares of the business services provider’s stock worth $152,000 after purchasing an additional 11,435 shares during the last quarter. Hedge funds and other institutional investors own 70.18% of the company’s stock.
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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