Liquidity Services, Inc. (LQDT) Expected to Announce Quarterly Sales of $64.17 Million
Wall Street brokerages expect that Liquidity Services, Inc. (NASDAQ:LQDT) will report sales of $64.17 million for the current quarter, Zacks reports. Two analysts have made 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 in the same quarter last year, which would suggest a negative year over year growth rate of 18.3%. The company is expected to report its next 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 year, with estimates ranging from $267.85 million to $277.79 million. For the next financial year, analysts forecast that the company will report sales of $278.98 million per share, with estimates ranging from $277.65 million to $280.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Liquidity Services.
Liquidity Services (NASDAQ:LQDT) last posted its earnings results on Thursday, August 3rd. The business services provider reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.03. Liquidity Services had a negative return on equity of 16.59% and a negative net margin of 27.52%. The company had revenue of $65.50 million for the quarter, compared to analyst estimates of $79.56 million. During the same period last year, the company earned $0.07 earnings per share. The business’s revenue was down 23.1% compared to the same quarter last year.
Several equities research analysts recently issued reports on LQDT shares. Robert W. Baird reiterated a “neutral” rating on shares of Liquidity Services in a research note on Monday, July 3rd. Zacks Investment Research downgraded shares of Liquidity Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, ValuEngine upgraded shares of Liquidity Services from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st.
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In other Liquidity Services news, insider James M. Rallo sold 15,270 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $5.80, for a total value of $88,566.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Roger Gravley sold 8,545 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $5.80, for a total transaction of $49,561.00. Following the completion of the transaction, the insider now directly owns 9,702 shares in the company, valued at $56,271.60. The disclosure for this sale can be found here. 22.30% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in LQDT. Renaissance Technologies LLC raised its holdings in Liquidity Services by 22.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,981,239 shares of the business services provider’s stock valued at $12,581,000 after acquiring an additional 357,240 shares during the period. Dimensional Fund Advisors LP raised its holdings in Liquidity Services by 14.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 902,983 shares of the business services provider’s stock valued at $5,734,000 after acquiring an additional 110,643 shares during the period. Vanguard Group Inc. raised its holdings in Liquidity Services by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 1,309,668 shares of the business services provider’s stock valued at $10,477,000 after acquiring an additional 71,139 shares during the period. Bank of America Corp DE raised its holdings in Liquidity Services by 94.6% in the 1st quarter. Bank of America Corp DE now owns 40,679 shares of the business services provider’s stock valued at $326,000 after acquiring an additional 19,771 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in Liquidity Services by 11.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 177,910 shares of the business services provider’s stock valued at $1,130,000 after acquiring an additional 18,397 shares during the period. 66.95% of the stock is currently owned by hedge funds and other institutional investors.
Liquidity Services (NASDAQ:LQDT) opened at 5.90 on Monday. The company’s market capitalization is $185.87 million. Liquidity Services has a 1-year low of $5.50 and a 1-year high of $10.50. The stock has a 50 day moving average price of $5.84 and a 200-day moving average price of $6.40.
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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