Libbey Inc. (LBY) Downgraded by TheStreet
Separately, Zacks Investment Research upgraded shares of Libbey from a strong sell rating to a hold rating in a report on Wednesday, July 5th.
Libbey (NYSE:LBY) last issued its quarterly earnings results on Tuesday, October 31st. The company reported ($3.57) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($3.88). The firm had revenue of $187.30 million for the quarter, compared to analysts’ expectations of $193.74 million. Libbey had a negative return on equity of 2.32% and a negative net margin of 0.42%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.1175 per share. The ex-dividend date is Monday, November 6th. This represents a $0.47 dividend on an annualized basis and a dividend yield of Infinity.
Several hedge funds and other institutional investors have recently modified their holdings of LBY. Tudor Investment Corp ET AL purchased a new stake in shares of Libbey during the second quarter worth about $127,000. Voya Investment Management LLC grew its holdings in shares of Libbey by 18.1% during the second quarter. Voya Investment Management LLC now owns 16,424 shares of the company’s stock worth $132,000 after buying an additional 2,522 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Libbey during the second quarter worth about $159,000. The Manufacturers Life Insurance Company grew its holdings in shares of Libbey by 9.3% during the second quarter. The Manufacturers Life Insurance Company now owns 20,180 shares of the company’s stock worth $163,000 after buying an additional 1,712 shares in the last quarter. Finally, Thrivent Financial For Lutherans purchased a new stake in shares of Libbey during the second quarter worth about $172,000.
Libbey Inc is engaged in the design, production and sale of tableware and other products. The Company’s segments are U.S. & Canada; Latin America; Europe, the Middle East and Africa (EMEA) and Other. The U.S. & Canada segment includes sales of manufactured and sourced tableware having an end market destination in the United States and Canada, excluding glass products for original equipment manufacturers (OEMs), which remain in the Latin America segment.
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