Brokerages expect that Liquidity Services, Inc. (NASDAQ:LQDT) will report sales of $53.73 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Liquidity Services’ earnings, with the highest sales estimate coming in at $56.85 million and the lowest estimate coming in at $50.61 million. Liquidity Services reported sales of $52.71 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.9%. The business is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, December 10th.
On average, analysts expect that Liquidity Services will report full year sales of $221.55 million for the current fiscal year, with estimates ranging from $218.35 million to $224.75 million. For the next fiscal year, analysts anticipate that the firm will post sales of $237.75 million, with estimates ranging from $235.24 million to $240.26 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Liquidity Services.
A number of analysts have commented on the stock. BidaskClub lowered shares of Liquidity Services from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Zacks Investment Research downgraded Liquidity Services from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, ValuEngine downgraded Liquidity Services from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Liquidity Services presently has a consensus rating of “Hold” and an average price target of $8.63.
Several institutional investors and hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC increased its holdings in shares of Liquidity Services by 69.7% in the 3rd quarter. Squarepoint Ops LLC now owns 93,352 shares of the business services provider’s stock valued at $691,000 after purchasing an additional 38,350 shares during the period. California State Teachers Retirement System increased its holdings in shares of Liquidity Services by 4.4% in the 3rd quarter. California State Teachers Retirement System now owns 42,683 shares of the business services provider’s stock valued at $316,000 after purchasing an additional 1,810 shares during the period. Russell Investments Group Ltd. increased its holdings in Liquidity Services by 24.1% in the third quarter. Russell Investments Group Ltd. now owns 732,889 shares of the business services provider’s stock worth $5,423,000 after buying an additional 142,281 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in Liquidity Services in the third quarter worth approximately $757,000. Finally, Rhumbline Advisers increased its holdings in Liquidity Services by 6.3% in the third quarter. Rhumbline Advisers now owns 87,269 shares of the business services provider’s stock worth $646,000 after buying an additional 5,137 shares during the last quarter. Institutional investors own 70.18% of the company’s stock.
LQDT stock traded down $0.04 during mid-day trading on Monday, reaching $6.71. 141,657 shares of the stock traded hands, compared to its average volume of 95,578. Liquidity Services has a 52-week low of $5.49 and a 52-week high of $9.16. The company has a market cap of $225.80 million, a P/E ratio of -13.42 and a beta of 1.10. The stock’s fifty day moving average is $6.61 and its 200-day moving average is $6.61.
About Liquidity Services
Liquidity Services, Inc provides e-commerce marketplace that enable buyers and sellers to transact in an automated environment offering approximately 500 product categories. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and capital assets; govdeals.com that enables local and state government entities, including city, county, and state agencies to sell surplus and salvage assets, as well as offers a suite of services that includes asset sales and marketing, and seller self-service; and auctiondeals.com, a self-service solution, which enable sellers list their own assets, and enable commercial businesses to sell surplus and salvage assets.
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