$1.38 Billion in Sales Expected for Liberty Media Corporation (LSXMA) This Quarter
Wall Street analysts expect Liberty Media Corporation (NASDAQ:LSXMA) to report $1.38 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Liberty Media Corporation’s earnings. The lowest sales estimate is $1.36 billion and the highest is $1.40 billion. Liberty Media Corporation reported sales of $1.28 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 7.8%. The firm is expected to issue its next earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Liberty Media Corporation will report full year sales of $1.38 billion for the current year, with estimates ranging from $5.35 billion to $5.51 billion. For the next financial year, analysts anticipate that the company will report sales of $5.71 billion per share, with estimates ranging from $5.64 billion to $5.80 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Liberty Media Corporation.
A number of research firms have recently weighed in on LSXMA. Zacks Investment Research raised Liberty Media Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 10th. Deutsche Bank AG lowered their price objective on Liberty Media Corporation from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, May 12th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $40.00 price objective (down previously from $43.00) on shares of Liberty Media Corporation in a research report on Monday, May 15th. Pivotal Research reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Liberty Media Corporation in a research report on Wednesday, May 24th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Liberty Media Corporation in a research report on Tuesday, May 30th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Liberty Media Corporation has an average rating of “Buy” and a consensus price target of $45.67.
Shares of Liberty Media Corporation (LSXMA) traded down 0.52% on Thursday, reaching $42.08. 398,705 shares of the company’s stock were exchanged. The company’s 50 day moving average is $42.88 and its 200-day moving average is $39.95. The stock has a market cap of $14.14 billion, a price-to-earnings ratio of 30.58 and a beta of 2.69. Liberty Media Corporation has a one year low of $31.83 and a one year high of $46.43.
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In other Liberty Media Corporation news, Chairman John C. Malone sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $43.27, for a total transaction of $778,860.00. Following the sale, the chairman now owns 15,366,920 shares in the company, valued at $664,926,628.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider R. Ted Weschler acquired 492,156 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were purchased at an average price of $38.26 per share, for a total transaction of $18,829,888.56. Following the purchase, the insider now directly owns 271,034 shares of the company’s stock, valued at $10,369,760.84. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,198,701 shares of company stock worth $47,671,579 and sold 440,003 shares worth $16,787,961.
Several institutional investors have recently bought and sold shares of LSXMA. MAI Capital Management raised its position in Liberty Media Corporation by 0.7% in the first quarter. MAI Capital Management now owns 9,181 shares of the technology company’s stock valued at $357,000 after buying an additional 67 shares during the period. D.A. Davidson & CO. raised its position in Liberty Media Corporation by 1.2% in the second quarter. D.A. Davidson & CO. now owns 11,281 shares of the technology company’s stock valued at $473,000 after buying an additional 131 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in Liberty Media Corporation by 2.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 6,049 shares of the technology company’s stock valued at $235,000 after buying an additional 135 shares during the period. Howard Hughes Medical Institute raised its position in Liberty Media Corporation by 1.0% in the second quarter. Howard Hughes Medical Institute now owns 14,947 shares of the technology company’s stock valued at $627,000 after buying an additional 145 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Liberty Media Corporation by 1.3% in the first quarter. Janney Montgomery Scott LLC now owns 13,546 shares of the technology company’s stock valued at $527,000 after buying an additional 171 shares during the period. 24.15% of the stock is owned by institutional investors.
Liberty Media Corporation Company Profile
Liberty Media Corporation owns interests in subsidiaries and other companies, which are engaged in the media and entertainment industries. The Company’s principal businesses and assets include its consolidated subsidiaries Sirius XM Holdings Inc (SIRIUS XM) and Braves Holdings, LLC (Braves Holdings), and its equity affiliate Live Nation Entertainment, Inc (Live Nation).
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