Liberty Latin America (NASDAQ:LILA) Shares Gap Down on Disappointing Earnings

Shares of Liberty Latin America Ltd. (NASDAQ:LILA) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $7.73, but opened at $7.30. Liberty Latin America shares last traded at $8.4850, with a volume of 242,718 shares changing hands.

The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.23). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. Liberty Latin America had a negative return on equity of 50.24% and a negative net margin of 13.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Liberty Latin America in a research note on Thursday, January 22nd. Benchmark lifted their price target on Liberty Latin America from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $9.75.

Institutional Trading of Liberty Latin America

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of Liberty Latin America by 79.8% during the 4th quarter. Invesco Ltd. now owns 23,263 shares of the company’s stock valued at $172,000 after buying an additional 10,323 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Liberty Latin America during the 4th quarter valued at $93,000. Mackenzie Financial Corp increased its position in shares of Liberty Latin America by 2.1% during the fourth quarter. Mackenzie Financial Corp now owns 149,901 shares of the company’s stock valued at $1,107,000 after buying an additional 3,014 shares during the period. Occudo Quantitative Strategies LP lifted its stake in Liberty Latin America by 51.3% in the 4th quarter. Occudo Quantitative Strategies LP now owns 54,259 shares of the company’s stock worth $401,000 after purchasing an additional 18,398 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Liberty Latin America by 121.9% during the fourth quarter. Millennium Management LLC now owns 63,963 shares of the company’s stock valued at $473,000 after buying an additional 35,137 shares during the period. 18.48% of the stock is currently owned by institutional investors.

Liberty Latin America Stock Performance

The company has a debt-to-equity ratio of 7.40, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $1.60 billion, a P/E ratio of -2.62 and a beta of 1.01. The stock has a 50-day moving average price of $7.63 and a 200-day moving average price of $7.91.

Liberty Latin America Company Profile

Liberty Latin America is a telecommunications company that provides video, broadband internet, telephony and mobile services across Latin America and the Caribbean. The company’s operations span consumer and business markets, offering cable television packages, high-speed broadband connections, fixed-line voice services and wireless data plans. Through its brands, including Flow in several Caribbean territories and VTR in Chile, Liberty Latin America focuses on delivering converged digital solutions designed to meet both residential and enterprise needs.

Formed in 2018 as a spin-off from Liberty Global, Liberty Latin America built its initial footprint by integrating legacy assets acquired from Cable & Wireless Communications and Columbus Communications.