Liberty Broadband (NASDAQ:LBRDA) Announces Earnings Results

Liberty Broadband (NASDAQ:LBRDA) posted its earnings results on Wednesday. The company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.57, Zacks reports. The firm had revenue of $257.00 million during the quarter, compared to analyst estimates of $267.70 million. Liberty Broadband had a net margin of 103.04% and a return on equity of 12.23%.

Liberty Broadband Stock Performance

LBRDA traded up $0.56 during midday trading on Friday, reaching $50.43. The company had a trading volume of 94,554 shares, compared to its average volume of 97,374. Liberty Broadband has a 12-month low of $49.07 and a 12-month high of $102.38. The business has a 50-day moving average price of $58.95 and a two-hundred day moving average price of $75.13. The stock has a market cap of $7.24 billion, a PE ratio of 9.14 and a beta of 1.01. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.60 and a current ratio of 0.24.

Liberty Broadband Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, September 30th were paid a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 3.5%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Liberty Broadband from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $100.67.

Hedge Funds Weigh In On Liberty Broadband

Several institutional investors have recently bought and sold shares of LBRDA. Franklin Resources Inc. grew its holdings in Liberty Broadband by 66.2% during the second quarter. Franklin Resources Inc. now owns 615 shares of the company’s stock valued at $60,000 after purchasing an additional 245 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in shares of Liberty Broadband by 62.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,245 shares of the company’s stock valued at $220,000 after buying an additional 862 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Liberty Broadband during the 1st quarter valued at $304,000. American Century Companies Inc. grew its stake in shares of Liberty Broadband by 8.3% during the 2nd quarter. American Century Companies Inc. now owns 3,453 shares of the company’s stock worth $338,000 after acquiring an additional 265 shares during the period. Finally, AQR Capital Management LLC increased its holdings in Liberty Broadband by 35.0% in the 1st quarter. AQR Capital Management LLC now owns 16,572 shares of the company’s stock worth $1,409,000 after acquiring an additional 4,298 shares during the last quarter. Hedge funds and other institutional investors own 10.29% 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. Its Charter segment offers subscription-based Internet and video services, and mobile and voice services; and state-of-the-art residential and business services, which includes Spectrum Internet, TV, mobile and voice for small and medium-sized companies; Spectrum Business provides a suite of broadband products and services for businesses and government application; Spectrum Enterprise offers customized fiber-based solutions; Spectrum Reach provides advertising and production for the modern media landscape.