Zacks: Analysts Anticipate Limelight Networks, Inc. (LLNW) to Post $0.03 Earnings Per Share

Equities research analysts expect that Limelight Networks, Inc. (NASDAQ:LLNW) will announce earnings per share (EPS) of $0.03 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Limelight Networks’ earnings, with estimates ranging from $0.02 to $0.03. Limelight Networks posted earnings of $0.02 per share during the same quarter last year, which suggests a positive year over year growth rate of 50%. The firm is expected to announce its next earnings results after the market closes on Thursday, October 18th.

According to Zacks, analysts expect that Limelight Networks will report full year earnings of $0.15 per share for the current financial year, with EPS estimates ranging from $0.14 to $0.15. For the next financial year, analysts expect that the business will report earnings of $0.20 per share, with EPS estimates ranging from $0.17 to $0.23. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Limelight Networks.

Limelight Networks (NASDAQ:LLNW) last posted its earnings results on Thursday, July 19th. The information services provider reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $50.25 million for the quarter, compared to the consensus estimate of $49.64 million. Limelight Networks had a net margin of 6.43% and a return on equity of 1.99%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share.

LLNW has been the topic of several analyst reports. BidaskClub downgraded shares of Limelight Networks from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 30th. DA Davidson set a $7.00 price target on shares of Limelight Networks and gave the company a “buy” rating in a report on Monday, October 8th. Cowen restated a “buy” rating and set a $6.50 price target on shares of Limelight Networks in a report on Friday, July 20th. Zacks Investment Research cut shares of Limelight Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 21st. Finally, Craig Hallum initiated coverage on shares of Limelight Networks in a report on Monday, August 27th. They set a “buy” rating and a $6.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $6.21.

In related news, insider Kurt Silverman sold 7,500 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $5.00, for a total value of $37,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert A. Lento sold 40,000 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $4.42, for a total transaction of $176,800.00. The disclosure for this sale can be found here. Insiders have sold 162,400 shares of company stock valued at $778,516 over the last 90 days. Corporate insiders own 10.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC bought a new stake in shares of Limelight Networks in the second quarter valued at about $125,000. Macquarie Group Ltd. bought a new stake in shares of Limelight Networks in the second quarter valued at about $139,000. Cim Investment Mangement Inc. bought a new stake in shares of Limelight Networks in the second quarter valued at about $182,000. WINTON GROUP Ltd bought a new stake in shares of Limelight Networks in the first quarter valued at about $172,000. Finally, MetLife Investment Advisors LLC lifted its stake in shares of Limelight Networks by 172.6% in the first quarter. MetLife Investment Advisors LLC now owns 43,835 shares of the information services provider’s stock valued at $180,000 after buying an additional 27,754 shares during the period. Institutional investors and hedge funds own 72.84% of the company’s stock.

Limelight Networks stock traded down $0.04 during mid-day trading on Friday, hitting $4.94. 32,507 shares of the company’s stock were exchanged, compared to its average volume of 965,601. The company has a market capitalization of $565.46 million, a price-to-earnings ratio of -246.50, a PEG ratio of 12.17 and a beta of 2.33. Limelight Networks has a 1-year low of $3.69 and a 1-year high of $6.05.

Limelight Networks Company Profile

Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.

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