Analysts Anticipate Limelight Networks, Inc. (LLNW) to Post $0.03 Earnings Per Share

Brokerages expect that Limelight Networks, Inc. (NASDAQ:LLNW) will announce earnings per share (EPS) of $0.03 for the current quarter, according to Zacks. Four analysts have made estimates for Limelight Networks’ earnings, with estimates ranging from $0.03 to $0.04. Limelight Networks reported earnings of $0.04 per share in the same quarter last year, which indicates a negative year over year growth rate of 25%. The firm is scheduled to report its next quarterly earnings report on Wednesday, February 6th.

According to Zacks, analysts expect that Limelight Networks will report full year earnings of $0.15 per share for the current year. For the next fiscal year, analysts expect that the company will post earnings of $0.20 per share, with EPS estimates ranging from $0.16 to $0.23. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Limelight Networks.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Thursday, October 18th. The information services provider reported $0.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. The company had revenue of $49.32 million during the quarter, compared to the consensus estimate of $49.01 million. Limelight Networks had a net margin of 7.07% and a return on equity of 2.32%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share.

LLNW has been the topic of several research reports. BidaskClub cut shares of Limelight Networks from a “hold” rating to a “sell” rating in a report on Wednesday, October 31st. DA Davidson set a $7.00 target price on shares of Limelight Networks and gave the stock a “buy” rating in a report on Monday, October 8th. Cowen restated a “buy” rating and issued a $6.50 target price on shares of Limelight Networks in a report on Friday, July 20th. TheStreet cut shares of Limelight Networks from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th. Finally, ValuEngine cut shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $6.21.

Shares of LLNW stock opened at $3.70 on Wednesday. Limelight Networks has a 12-month low of $3.68 and a 12-month high of $6.05. The company has a market capitalization of $436.96 million, a P/E ratio of -185.00, a P/E/G ratio of 8.58 and a beta of 2.47.

In related news, insider Kurt Silverman sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $5.00, for a total value of $37,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert A. Lento sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $4.89, for a total transaction of $195,600.00. The disclosure for this sale can be found here. Insiders sold 148,800 shares of company stock worth $697,505 in the last 90 days. 10.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Limelight Networks by 18.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 71,533 shares of the information services provider’s stock worth $294,000 after acquiring an additional 11,383 shares during the last quarter. Strs Ohio boosted its stake in shares of Limelight Networks by 8.0% during the 2nd quarter. Strs Ohio now owns 160,700 shares of the information services provider’s stock worth $718,000 after acquiring an additional 11,900 shares during the last quarter. MML Investors Services LLC purchased a new position in shares of Limelight Networks during the 3rd quarter worth $106,000. California State Teachers Retirement System boosted its stake in shares of Limelight Networks by 17.7% during the 1st quarter. California State Teachers Retirement System now owns 139,696 shares of the information services provider’s stock worth $574,000 after acquiring an additional 21,053 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Limelight Networks by 0.3% during the 3rd quarter. BlackRock Inc. now owns 7,729,999 shares of the information services provider’s stock worth $38,805,000 after acquiring an additional 22,448 shares during the last quarter. Institutional investors and hedge funds own 73.51% of the company’s stock.

About Limelight Networks

Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.

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