Liberty Latin America (NASDAQ:LILA) Shares Gap Down Following Weak Earnings

Liberty Latin America Ltd. (NASDAQ:LILA) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $7.73, but opened at $7.30. Liberty Latin America shares last traded at $8.4850, with a volume of 242,718 shares.

The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.23). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Liberty Latin America had a negative return on equity of 54.11% and a negative net margin of 16.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Benchmark raised their target price on shares of Liberty Latin America from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Liberty Latin America in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Liberty Latin America currently has an average rating of “Reduce” and a consensus price target of $9.75.

Hedge Funds Weigh In On Liberty Latin America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Liberty Latin America during the second quarter worth approximately $936,000. Panagora Asset Management Inc. boosted its stake in Liberty Latin America by 58.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 290,044 shares of the company’s stock valued at $1,769,000 after acquiring an additional 106,990 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in Liberty Latin America by 6.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,127,929 shares of the company’s stock worth $6,880,000 after acquiring an additional 69,649 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Liberty Latin America in the 2nd quarter worth about $66,000. Finally, Wittenberg Investment Management Inc. increased its position in shares of Liberty Latin America by 1.2% in the 2nd quarter. Wittenberg Investment Management Inc. now owns 595,207 shares of the company’s stock worth $3,631,000 after purchasing an additional 6,780 shares during the last quarter. 18.48% of the stock is owned by hedge funds and other institutional investors.

Liberty Latin America Trading Up 10.7%

The company has a debt-to-equity ratio of 6.78, a quick ratio of 1.14 and a current ratio of 1.14. The business’s 50 day moving average price is $7.65 and its 200-day moving average price is $7.90. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -2.32 and a beta of 1.01.

About Liberty Latin America

Liberty Latin America is a telecommunications company that provides video, broadband internet, telephony and mobile services across Latin America and the Caribbean. The company’s operations span consumer and business markets, offering cable television packages, high-speed broadband connections, fixed-line voice services and wireless data plans. Through its brands, including Flow in several Caribbean territories and VTR in Chile, Liberty Latin America focuses on delivering converged digital solutions designed to meet both residential and enterprise needs.

Formed in 2018 as a spin-off from Liberty Global, Liberty Latin America built its initial footprint by integrating legacy assets acquired from Cable & Wireless Communications and Columbus Communications.