KeyCorp Comments on Livent Co.’s Q3 2023 Earnings (NYSE:LTHM)

Livent Co. (NYSE:LTHM – Get Rating) – Equities research analysts at KeyCorp lowered their Q3 2023 earnings per share (EPS) estimates for shares of Livent in a research note issued to investors on Wednesday, May 10th. KeyCorp analyst A. Yefremov now anticipates that the company will post earnings per share of $0.42 for the quarter, down from their prior forecast of $0.49. The consensus estimate for Livent’s current full-year earnings is $1.99 per share. KeyCorp also issued estimates for Livent’s Q4 2023 earnings at $0.43 EPS.

Livent (NYSE:LTHM – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.39 by $0.21. Livent had a return on equity of 26.15% and a net margin of 36.30%. The company had revenue of $235.50 million for the quarter, compared to analyst estimates of $229.94 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The firm’s revenue was up 64.1% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the company. Bank of America raised Livent from a “neutral” rating to a “buy” rating and lowered their price target for the company from $29.00 to $27.00 in a research report on Wednesday, April 5th. Scotiabank reaffirmed a “sector perform” rating on shares of Livent in a research report on Wednesday, February 15th. CICC Research raised Livent from a “market perform” rating to an “outperform” rating in a report on Thursday, May 4th. B. Riley upgraded Livent from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Livent from $23.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, April 20th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.43.

Livent Stock Performance

NYSE LTHM opened at $25.51 on Friday. Livent has a fifty-two week low of $18.26 and a fifty-two week high of $36.38. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 0.40 and a beta of 1.81. The business has a fifty day moving average of $21.75 and a 200-day moving average of $24.12. The company has a quick ratio of 2.83, a current ratio of 4.23 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On Livent

Several institutional investors have recently bought and sold shares of the stock. Paragon Wealth Strategies LLC acquired a new stake in shares of Livent in the third quarter valued at about $31,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Livent in the first quarter valued at about $31,000. Almanack Investment Partners LLC. acquired a new stake in shares of Livent in the third quarter valued at about $35,000. Wipfli Financial Advisors LLC acquired a new stake in shares of Livent in the third quarter valued at about $37,000. Finally, BerganKDV Wealth Management LLC acquired a new stake in shares of Livent in the first quarter valued at about $38,000. 90.62% of the stock is currently owned by institutional investors.

About Livent

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Livent Corp. engages in the production of performance lithium compounds. Its products include battery-grade lithium hydroxide, butyllithium, and purity lithium metal which are used in various performance applications. It operates through the following geographical segments: North America, Europe, Middle East, and Africa, Latin America, and Asia Pacific.