Libbey (LBY) Announces Quarterly Results
Libbey (NYSE:LBY) announced its earnings results on Thursday. The company reported $1.02 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.27, AnalystRatings.Net reports. The company had revenue of $223.50 million for the quarter, compared to the consensus estimate of $213.97 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis.
Libbey (NYSE:LBY) opened at 23.09 on Thursday. Libbey has a 52 week low of $19.19 and a 52 week high of $28.00. The stock has a 50-day moving average of $25.72 and a 200-day moving average of $24.82. The company has a market cap of $495.9 million and a price-to-earnings ratio of 21.72. Libbey also was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 635,732 shares, a growth of 7.9% from the June 30th total of 589,270 shares. Currently, 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 254,549 shares, the short-interest ratio is presently 2.5 days.
On a related note, analysts at Dougherty & Co initiated coverage on shares of Libbey in a research note on Wednesday, May 14th. They set a “buy” rating and a $40.00 price target on the stock.
Libbey Inc (NYSE:LBY) is a producer of glass tableware products in the Western Hemisphere, in addition to supplying to key markets throughout the world.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.