KeyCorp Weighs in on Livent Co.’s FY2024 Earnings (NYSE:LTHM)

Livent Co. (NYSE:LTHM) – Stock analysts at KeyCorp cut their FY2024 EPS estimates for Livent in a report released on Tuesday, October 31st. KeyCorp analyst A. Yefremov now anticipates that the company will earn $1.92 per share for the year, down from their previous estimate of $2.66. KeyCorp currently has a “Overweight” rating and a $29.00 target price on the stock. The consensus estimate for Livent’s current full-year earnings is $2.02 per share.

Livent (NYSE:LTHM) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). The company had revenue of $211.40 million for the quarter, compared to analyst estimates of $264.41 million. Livent had a net margin of 40.77% and a return on equity of 25.60%. Livent’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS.

Other equities research analysts also recently issued reports about the stock. Piper Sandler downgraded shares of Livent from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $19.00 in a research report on Wednesday, October 25th. Deutsche Bank Aktiengesellschaft raised shares of Livent from a “hold” rating to a “buy” rating and decreased their target price for the stock from $27.00 to $21.00 in a research report on Wednesday, October 25th. Finally, BMO Capital Markets decreased their target price on shares of Livent from $24.00 to $20.00 and set a “market perform” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.14.

Livent Trading Up 1.9 %

NYSE:LTHM opened at $14.98 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.46 and a quick ratio of 2.37. The firm has a 50-day moving average of $18.13 and a 200-day moving average of $22.41. The company has a market cap of $2.69 billion, a PE ratio of 8.37, a PEG ratio of 0.59 and a beta of 1.88. Livent has a one year low of $13.37 and a one year high of $35.81.

Insider Activity

In other news, CEO Paul W. Graves sold 59,244 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $16.90, for a total transaction of $1,001,223.60. Following the completion of the transaction, the chief executive officer now directly owns 336,418 shares of the company’s stock, valued at approximately $5,685,464.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.17% of the company’s stock.

Institutional Trading of Livent

A number of institutional investors have recently modified their holdings of the business. Resources Management Corp CT ADV purchased a new stake in Livent in the 1st quarter worth approximately $101,000. Aspire Private Capital LLC purchased a new stake in Livent in the 1st quarter worth approximately $20,634,000,000. Almanack Investment Partners LLC. purchased a new stake in Livent in the 3rd quarter worth approximately $35,000. CVA Family Office LLC purchased a new stake in Livent in the 2nd quarter worth approximately $38,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Livent in the 1st quarter worth approximately $31,000. 96.76% of the stock is currently owned by hedge funds and other institutional investors.

About Livent

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 non-rechargeable batteries and the production of lightweight materials for aerospace applications.