Liquidity Services (LQDT) Releases FY13 Earnings Guidance
Liquidity Services (LQDT) issued an update on its FY13 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.05-2.23 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.19. Liquidity Services also updated its Q1 guidance to $0.36-0.40 EPS.
Shares of Liquidity Services (LQDT) opened at 43.73 on Thursday. Liquidity Services (LQDT) has a 52 week low of $29.30 and a 52 week high of $66.57. The company has a market cap of $1.355 billion and a P/E ratio of 30.82.
Liquidity Services last announced its earnings results on Thursday, November 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $122.30 million for the quarter, compared to the consensus estimate of $114.26 million. During the same quarter in 2011, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 54.4% on a year-over-year basis. On average, analysts predict that Liquidity Services (LQDT) will post $1.83 earnings per share for the current fiscal year.
Several analysts have also recently commented on the stock. Analysts at Oppenheimer reiterated an outperform rating on shares of Liquidity Services in a research note to investors on Monday. On a related note, analysts at Bank of America upgraded shares of Liquidity Services from a neutral rating to a buy rating in a research note to investors on Friday, October 26th. They now have a $53.00 price target on the stock, up previously from $46.00. Finally, analysts at Benchmark Co. cut their price target on shares of Liquidity Services from $73.00 to $62.00 in a research note to investors on Monday, October 15th. They now have a buy rating on the stock.
Liquidity Services, Inc. is an auction marketplace for surplus and salvage assets. The Company enables buyers and sellers to transact in an automated online auction environment offering over 500 product categories.
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