Brokers Issue Forecasts for Lion Electric FY2024 Earnings

The Lion Electric Company (NYSE:LEV - Free Report) - Equities researchers at Desjardins reduced their FY2024 earnings per share (EPS) estimates for shares of Lion Electric in a research note issued on Thursday, November 7th. Desjardins analyst B. Poirier now forecasts that the company will post earnings per share of ($0.44) for the year, down from their previous estimate of ($0.37). The consensus estimate for Lion Electric's current full-year earnings is ($0.44) per share. Desjardins also issued estimates for Lion Electric's Q4 2024 earnings at ($0.10) EPS and FY2025 earnings at ($0.17) EPS.

Lion Electric (NYSE:LEV - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). The firm had revenue of $30.63 million during the quarter, compared to analysts' expectations of $34.33 million. Lion Electric had a negative return on equity of 32.42% and a negative net margin of 74.35%. During the same quarter in the prior year, the firm posted ($0.10) earnings per share.

A number of other equities analysts have also recently commented on LEV. DA Davidson reissued a "neutral" rating and issued a $1.00 price objective (down from $1.50) on shares of Lion Electric in a research note on Monday, August 12th. BMO Capital Markets reduced their price objective on Lion Electric from $0.80 to $0.60 and set a "market perform" rating on the stock in a research note on Friday. Finally, Roth Capital cut Lion Electric from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $1.46.

Lion Electric Price Performance

Shares of NYSE LEV traded up $0.06 during midday trading on Monday, reaching $0.40. 970,562 shares of the stock traded hands, compared to its average volume of 417,495. The company's 50 day moving average is $0.67 and its 200 day moving average is $0.82. Lion Electric has a one year low of $0.32 and a one year high of $1.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 0.53. The stock has a market capitalization of $91.35 million, a PE ratio of -0.66 and a beta of 2.14.

Hedge Funds Weigh In On Lion Electric

Several institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new stake in shares of Lion Electric in the 2nd quarter worth $62,000. XTX Topco Ltd purchased a new stake in shares of Lion Electric during the second quarter worth about $40,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Lion Electric by 14.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company's stock valued at $341,000 after acquiring an additional 30,050 shares in the last quarter. 52.73% of the stock is owned by hedge funds and other institutional investors.

About Lion Electric

The Lion Electric Company designs, develops, manufactures, and distributes purpose-built all-electric medium and heavy-duty urban vehicles in North America. The company's products include battery systems, chassis, bus bodies, and truck cabins. It distributes truck and bus parts, as well as accessories.