Livent Corporation (NYSE:LTHM) – Research analysts at Seaport Global Securities lowered their FY2019 earnings per share estimates for shares of Livent in a research note issued to investors on Thursday, November 7th. Seaport Global Securities analyst M. Harrison now anticipates that the company will earn $0.45 per share for the year, down from their previous estimate of $0.59. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Livent’s Q2 2020 earnings at $0.15 EPS, Q3 2020 earnings at $0.17 EPS, Q4 2020 earnings at $0.20 EPS, FY2020 earnings at $0.68 EPS and FY2021 earnings at $0.83 EPS.
A number of other equities research analysts also recently weighed in on the company. Bank of America downgraded Livent from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $10.00 to $7.00 in a research note on Monday, August 12th. Zacks Investment Research downgraded Livent from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. ValuEngine raised Livent from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Nomura set a $9.00 price objective on Livent and gave the company a “hold” rating in a research note on Wednesday, August 7th. Finally, Citigroup cut their price objective on Livent from $8.25 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $13.73.
Livent (NYSE:LTHM) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.02). Livent had a return on equity of 17.27% and a net margin of 17.75%. The firm had revenue of $97.70 million for the quarter, compared to analysts’ expectations of $112.75 million. During the same period last year, the business earned $0.20 earnings per share. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis.
Several hedge funds have recently modified their holdings of LTHM. Marshall Wace LLP bought a new position in Livent in the 1st quarter worth approximately $52,000. First Trust Advisors LP bought a new position in Livent in the 1st quarter worth approximately $1,710,000. Amundi Pioneer Asset Management Inc. bought a new position in Livent in the 1st quarter worth approximately $798,000. WINTON GROUP Ltd bought a new position in Livent in the 2nd quarter worth approximately $130,000. Finally, Crossmark Global Holdings Inc. bought a new position in Livent in the 2nd quarter worth approximately $82,000. 96.74% of the stock is currently owned by institutional investors and hedge funds.
Livent Corporation manufactures and sells performance lithium compounds that are used primarily in energy storage, specialty polymers, and chemical synthesis application. 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 supplies butyllithium, which is used as a synthesizer 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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