Liberty Global PLC (LBTYA) Rating Increased to Buy at Zacks Investment Research
Liberty Global PLC (NASDAQ:LBTYA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $35.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 10.86% from the stock’s previous close.
According to Zacks, “Liberty Global is expected to benefit from its widespread adoption of broadband and data services in the form of its new launch of DOCSIS 3.1 network services. Further, the merger and acquisitions plans of the company seems impressive. The 50-50 joint venture with Vodafone in the Netherlands, the acquisition of UTV Ireland TV stations from ITV, agreement with Netfix and the takeover of Cable & Wireless Communications should drive growth at Liberty Global. However, Liberty Global’s predominant operation in Europe, which became economically vulnerable after Brexit, is a major concern. Moreover, ongoing debt crisis, low per-capita income, stiff competititon in fixed-line and mobile serve business, foreign exchange rate risks and integration risks are the major dampeners.”
A number of other equities research analysts have also weighed in on LBTYA. Wunderlich reduced their price objective on Liberty Global PLC from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. Jefferies Group restated a “buy” rating and set a $46.00 price objective (down previously from $53.00) on shares of Liberty Global PLC in a research report on Thursday, June 23rd. Pivotal Research reduced their price target on Liberty Global PLC from $50.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, June 24th. Evercore ISI started coverage on Liberty Global PLC in a research report on Thursday, June 30th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Citigroup Inc. reduced their price target on Liberty Global PLC from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, August 18th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Liberty Global PLC presently has a consensus rating of “Buy” and an average target price of $44.31.
Liberty Global PLC (NASDAQ:LBTYA) traded down 0.618% during midday trading on Monday, hitting $31.375. The stock had a trading volume of 661,321 shares. The company’s 50 day moving average price is $32.76 and its 200-day moving average price is $34.20. Liberty Global PLC has a 52 week low of $26.16 and a 52 week high of $47.01. The stock’s market capitalization is $28.86 billion.
Liberty Global PLC (NASDAQ:LBTYA) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.41. Liberty Global PLC had a negative return on equity of 2.62% and a negative net margin of 1.71%. Equities analysts anticipate that Liberty Global PLC will post ($0.05) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of LBTYA. Oregon Public Employees Retirement Fund increased its position in Liberty Global PLC by 6.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 3,500 shares of the company’s stock worth $102,000 after buying an additional 200 shares during the period. Mizuho Asset Management Co. Ltd. increased its position in Liberty Global PLC by 124.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,760 shares of the company’s stock worth $109,000 after buying an additional 2,085 shares during the period. Assetmark Inc. increased its position in Liberty Global PLC by 10.8% in the second quarter. Assetmark Inc. now owns 4,453 shares of the company’s stock worth $129,000 after buying an additional 433 shares during the period. Simplex Trading LLC increased its position in Liberty Global PLC by 21.0% in the third quarter. Simplex Trading LLC now owns 4,968 shares of the company’s stock worth $169,000 after buying an additional 863 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its position in Liberty Global PLC by 15.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 7,199 shares of the company’s stock worth $188,000 after buying an additional 942 shares during the period. 21.16% of the stock is currently owned by institutional investors and hedge funds.
Liberty Global PLC Company Profile
Liberty Global PLC, formerly Liberty Global, Inc, is an international cable company with operations in 14 countries. The Company’s tripleplay services are provided through networks and technology platforms that connect approximately 25 million customers subscribing to over 47 million television, broadband Internet and telephony services.
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