Citigroup Lowers Liberty Oilfield Services (NYSE:LBRT) / Analyst lowered its Q4/18

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Citigroup Lowers Hydraulic Pressure pumping Company Liberty Oilfield Services (NYSE:LBRT) Price Target to $19.00 and analyst Stephen Gengaro reported Liberty Oilfield Services Inc. (LBRT:NYSE) lowered its Q4/18 guidance, and Stifel revised its Q4 numbers accordingly. However, he expressed optimism for next year, adding, “We continue to expect improvement in Q1/19. Our 2019-2020 estimates are unchanged.”

Gengaro explained that two Liberty customers had chosen to take equipment offline sooner than expected. As a result, the company’s Q4/18 revenue will sequentially decline from previous guidance by about 10%, according to management estimates. That equates to about a mid-single-digit drop.

Fracnews had posted a while back in a large number of crews sitting at the Henderson yard.

Brokerages forecast that Liberty Oilfield Services Inc (NYSE:LBRT) will post $515.41 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Liberty Oilfield Services’ earnings, with the lowest sales estimate coming in at $488.40 million and the highest estimate coming in at $554.00 million.

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