Livent (NYSE:LTHM) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Livent (NYSE:LTHM) released its quarterly earnings data on Sunday. The company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01, MarketWatch Earnings reports. The company had revenue of $91.70 million during the quarter, compared to the consensus estimate of $79.78 million. Livent had a negative net margin of 4.96% and a positive return on equity of 0.59%. Livent’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS.
Shares of Livent stock traded up $0.36 on Tuesday, hitting $18.08. 2,242,304 shares of the company traded hands, compared to its average volume of 3,281,608. The firm’s 50-day simple moving average is $17.64 and its 200 day simple moving average is $17.38. The company has a current ratio of 3.24, a quick ratio of 1.78 and a debt-to-equity ratio of 0.40. The company has a market cap of $2.65 billion, a P/E ratio of -202.22, a P/E/G ratio of 5.25 and a beta of 2.24. Livent has a 12-month low of $4.71 and a 12-month high of $23.99.
Several research analysts recently commented on the stock. Evercore ISI raised shares of Livent from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $20.00 to $22.00 in a report on Monday, April 26th. B. Riley assumed coverage on shares of Livent in a report on Friday, March 5th. They issued a “neutral” rating and a $19.00 price objective for the company. Argus raised shares of Livent from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Monday, February 22nd. Smith Barney Citigroup cut shares of Livent from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 6th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut shares of Livent from a “buy” rating to a “neutral” rating and increased their target price for the stock from $16.50 to $22.00 in a research note on Wednesday, January 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Livent currently has an average rating of “Hold” and a consensus target price of $17.91.
Livent Corporation manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and butyllithium, which is used in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in the production of lightweight materials for aerospace applications and non-rechargeable batteries.
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