Liberty Broadband (NASDAQ:LBRDK) Posts Quarterly Earnings Results, Beats Estimates By $0.57 EPS

Liberty Broadband (NASDAQ:LBRDK) released its earnings results on Wednesday. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.57, Zacks reports. Liberty Broadband had a net margin of 105.04% and a return on equity of 12.23%. The business had revenue of $257.00 million for the quarter, compared to the consensus estimate of $267.70 million.

Liberty Broadband Trading Up 1.0%

NASDAQ LBRDK traded up $0.52 on Friday, hitting $50.73. 789,679 shares of the stock were exchanged, compared to its average volume of 1,040,479. The company’s 50-day moving average price is $59.21 and its two-hundred day moving average price is $75.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.24 and a quick ratio of 0.60. Liberty Broadband has a 52-week low of $49.31 and a 52-week high of $104.00. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 9.19 and a beta of 1.01.

Analysts Set New Price Targets

Several research analysts have issued reports on LBRDK shares. Wall Street Zen upgraded shares of Liberty Broadband to a “hold” rating in a research report on Saturday, July 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Liberty Broadband in a report on Friday, October 31st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Liberty Broadband presently has a consensus rating of “Hold”.

Institutional Trading of Liberty Broadband

Several hedge funds and other institutional investors have recently modified their holdings of LBRDK. CANADA LIFE ASSURANCE Co raised its position in Liberty Broadband by 3.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 36,726 shares of the company’s stock valued at $3,619,000 after buying an additional 1,101 shares during the period. Chapman Financial Group LLC purchased a new position in Liberty Broadband during the 2nd quarter valued at about $586,000. Captrust Financial Advisors increased its holdings in shares of Liberty Broadband by 4.6% in the 2nd quarter. Captrust Financial Advisors now owns 5,376 shares of the company’s stock valued at $529,000 after purchasing an additional 237 shares during the period. P Schoenfeld Asset Management LP lifted its position in shares of Liberty Broadband by 103.9% in the second quarter. P Schoenfeld Asset Management LP now owns 63,200 shares of the company’s stock worth $6,218,000 after purchasing an additional 32,200 shares in the last quarter. Finally, Man Group plc boosted its holdings in shares of Liberty Broadband by 92.9% during the second quarter. Man Group plc now owns 957,253 shares of the company’s stock worth $94,175,000 after purchasing an additional 460,920 shares during the period. Institutional investors and hedge funds own 80.22% of the company’s stock.

Liberty Broadband Company Profile

Liberty Broadband Corporation engages in the communications businesses. The company's GCI Holdings segment provides data, wireless, video, voice, and managed services to residential customers, businesses, governmental entities, educational, and medical institutions in Alaska under the GCI brand.