Pivotal Research restated their buy rating on shares of Liberty Broadband (NASDAQ:LBRDA) in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have a $100.00 price objective on the stock, down from their previous price objective of $134.00.
“We modified our sum-of the-parts valuation methodology post the LBRDK 10-Q filing and most importantly for our 4/30 CHTR (BUY) YE’18 target price decrease to from $500 to $375, which led to $34 change in our YE’18 LBRDK target price to $100. Recall Liberty Broadband’s sole effective asset is a ~17% economic stake (25% voting) in BUY rated CHTR. Recall our CHTR target price reduction was a conservative move to attempt to reflect what we view as overdone investor concern regarding mainly heightened competition and changes to the broader low margin payTV subscriber outlook. We point investors to our most recent CHTR note for a detailed discussion of the underpinnings of this target price + risks. Recall we utilize an 8% discount to NAV in our LBRDK target price.”,” Pivotal Research’s analyst wrote.
A number of other analysts have also recently commented on LBRDA. TheStreet cut Liberty Broadband from a b rating to a c+ rating in a research report on Friday, May 11th. Zacks Investment Research upgraded Liberty Broadband from a strong sell rating to a hold rating in a research report on Tuesday, May 8th. BidaskClub cut Liberty Broadband from a sell rating to a strong sell rating in a research report on Saturday, April 14th. Buckingham Research cut their target price on Liberty Broadband to $123.00 and set a buy rating on the stock in a research report on Monday, May 7th. Finally, ValuEngine lowered Liberty Broadband from a hold rating to a sell rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $115.25.
LBRDA opened at $71.39 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.33 and a current ratio of 15.33. Liberty Broadband has a one year low of $70.66 and a one year high of $71.20. The stock has a market cap of $13.00 billion, a PE ratio of 6.43 and a beta of 1.44.
Liberty Broadband (NASDAQ:LBRDA) last posted its earnings results on Wednesday, May 9th. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.18). Liberty Broadband had a return on equity of 21.43% and a net margin of 9,350.33%. equities research analysts anticipate that Liberty Broadband will post 1.26 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in LBRDA. JPMorgan Chase & Co. boosted its holdings in Liberty Broadband by 1,568.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,189 shares of the company’s stock valued at $485,000 after purchasing an additional 4,878 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Liberty Broadband during the 4th quarter valued at approximately $124,000. First Manhattan Co. lifted its position in shares of Liberty Broadband by 22.4% during the 4th quarter. First Manhattan Co. now owns 118,237 shares of the company’s stock valued at $10,056,000 after acquiring an additional 21,609 shares during the period. Opera Trading Capital lifted its position in shares of Liberty Broadband by 449.6% during the 4th quarter. Opera Trading Capital now owns 12,157 shares of the company’s stock valued at $1,034,000 after acquiring an additional 9,945 shares during the period. Finally, Blue Sky Asset Management LLC acquired a new stake in shares of Liberty Broadband during the 4th quarter valued at approximately $1,421,000. 12.62% of the stock is currently owned by institutional investors.
About Liberty Broadband
Liberty Broadband Corporation, a cable operator, provides video, Internet, and voice services to residential and commercial customers in the United States. It operates through Skyhook and Charter segments. The Skyhook segment offers Precision Location Solution, a location determination service for mobile device makers, wireless carriers, and asset tracking platforms to understanding the precise geographic location and movement of mobile devices; enhancing the location determination capabilities of a hybrid location system.
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