$64.17 Million in Sales Expected for Liquidity Services, Inc. (LQDT) This Quarter
Analysts forecast that Liquidity Services, Inc. (NASDAQ:LQDT) will report $64.17 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Liquidity Services’ earnings, with estimates ranging from $59.20 million to $69.14 million. Liquidity Services reported sales of $78.51 million in the same quarter last year, which indicates a negative year-over-year growth rate of 18.3%. The company is scheduled to announce its next earnings report 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 fiscal year, analysts anticipate that the firm will report sales of $278.98 million per share, with estimates ranging from $277.65 million to $280.30 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Liquidity Services.
Liquidity Services (NASDAQ:LQDT) last announced 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 business had revenue of $65.50 million during the quarter, compared to analysts’ expectations of $79.56 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was down 23.1% on a year-over-year basis.
A number of research analysts have issued reports on LQDT shares. Zacks Investment Research raised Liquidity Services from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. ValuEngine upgraded Liquidity Services from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st.
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In related news, insider Roger Gravley sold 8,545 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $5.80, for a total transaction of $49,561.00. Following the sale, the insider now owns 9,702 shares of the company’s stock, valued at $56,271.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James M. Rallo sold 15,270 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $5.80, for a total value of $88,566.00. The disclosure for this sale can be found here. 22.30% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Liquidity Services by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 902,983 shares of the business services provider’s stock worth $5,734,000 after purchasing an additional 110,643 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of 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 last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of 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 last quarter. Northern Trust Corp lifted its stake in shares of Liquidity Services by 4.8% in the 2nd quarter. Northern Trust Corp now owns 347,062 shares of the business services provider’s stock valued at $2,204,000 after acquiring an additional 15,912 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Liquidity Services by 5.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 134,758 shares of the business services provider’s stock valued at $856,000 after acquiring an additional 6,940 shares during the last quarter. 66.95% of the stock is currently owned by institutional investors and hedge funds.
Liquidity Services Company Profile
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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