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Liquidity Services Inc. (LQDT) Sank To A New Low After Guidance Reduced

Liquidity Services Inc. (LQDT: Quote) reported first quarter adjusted EPS of $0.41 Thursday morning, compared to $0.37 in the previous year. The consensus estimate was for EPS of $0.38. The company also lowered its full year 2013 adjusted EPS forecast to between $1.90 and $2.02, from prior expectations of $2.05 to $2.23. The consensus estimate is for EPS of $2.15.

Liquidity Services gapped open sharply lower Thursday and declined in early trade, before settling into a range. The stock finished down by 9.20 at $31.87, with volume at over a 6-month high. Liquidity Services sank beneath support and set a new low for the year.

by RTT Staff Writer

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