$64.17 Million in Sales Expected for Liquidity Services, Inc. (LQDT) This Quarter
Wall Street brokerages forecast that Liquidity Services, Inc. (NASDAQ:LQDT) will report $64.17 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Liquidity Services’ earnings, with the highest sales estimate coming in at $69.14 million and the lowest estimate coming in at $59.20 million. Liquidity Services reported sales of $78.51 million during the same quarter last year, which would suggest a negative year over year growth rate of 18.3%. The company is expected to announce its next quarterly earnings results on Thursday, November 16th.
On average, analysts expect that Liquidity Services will report full-year sales of $64.17 million for the current fiscal year, with estimates ranging from $267.85 million to $277.79 million. For the next year, analysts expect that the business will post sales of $278.98 million per share, with estimates ranging from $277.65 million to $280.30 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Liquidity Services.
Liquidity Services (NASDAQ:LQDT) last released its quarterly earnings results on Thursday, August 3rd. The business services provider reported ($0.22) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.03. Liquidity Services had a negative net margin of 27.52% and a negative return on equity of 16.59%. The firm had revenue of $65.50 million for the quarter, compared to the consensus estimate of $79.56 million. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm’s quarterly revenue was down 23.1% on a year-over-year basis.
Several equities analysts recently commented on the stock. Robert W. Baird reiterated a “neutral” rating on shares of Liquidity Services in a research note on Monday, July 3rd. Zacks Investment Research cut shares of Liquidity Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, ValuEngine upgraded shares of Liquidity Services from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd.
Liquidity Services (LQDT) opened at 5.75 on Wednesday. The firm’s market capitalization is $181.14 million. The firm’s 50-day moving average is $6.39 and its 200 day moving average is $7.29. Liquidity Services has a one year low of $5.75 and a one year high of $11.49.
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Several institutional investors have recently made changes to their positions in the stock. Staley Capital Advisers Inc. boosted its position in shares of Liquidity Services by 17.4% in the first quarter. Staley Capital Advisers Inc. now owns 2,425,000 shares of the business services provider’s stock worth $19,400,000 after buying an additional 360,000 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Liquidity Services by 22.0% in the second quarter. Renaissance Technologies LLC now owns 1,981,239 shares of the business services provider’s stock worth $12,581,000 after buying an additional 357,240 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Liquidity Services by 19.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 753,862 shares of the business services provider’s stock worth $7,350,000 after buying an additional 125,213 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Liquidity Services by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,309,668 shares of the business services provider’s stock worth $10,477,000 after buying an additional 71,139 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Liquidity Services by 6.0% in the fourth quarter. State Street Corp now owns 680,126 shares of the business services provider’s stock worth $6,635,000 after buying an additional 38,642 shares in the last quarter. Institutional investors own 66.27% of the company’s stock.
About Liquidity Services
Liquidity Services, Inc operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information.
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