Loar (NYSE:LOAR - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.350-0.370 for the period, compared to the consensus estimate of 0.410. The company issued revenue guidance of $390.0 million-$394.0 million, compared to the consensus revenue estimate of $386.2 million. Loar also updated its FY 2025 guidance to 0.450-0.500 EPS.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Citigroup raised their price objective on Loar from $64.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. Morgan Stanley raised their price objective on Loar from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $80.00 price objective on shares of Loar in a report on Monday, October 7th.
Read Our Latest Research Report on LOAR
Loar Trading Down 8.1 %
Shares of NYSE:LOAR traded down $7.17 during midday trading on Wednesday, reaching $80.94. 664,221 shares of the company's stock were exchanged, compared to its average volume of 298,682. The firm's 50 day simple moving average is $78.25 and its two-hundred day simple moving average is $65.69. The company has a quick ratio of 3.09, a current ratio of 4.86 and a debt-to-equity ratio of 0.33. Loar has a fifty-two week low of $42.57 and a fifty-two week high of $95.35.
Loar (NYSE:LOAR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.03. The business had revenue of $97.10 million for the quarter, compared to analyst estimates of $91.70 million. Loar's revenue for the quarter was up 31.2% on a year-over-year basis. On average, research analysts anticipate that Loar will post 0.37 earnings per share for the current year.
Loar Company Profile
(
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Loar Holdings Inc, through its subsidiaries, designs, manufactures, and markets aerospace and defense components for aircraft, and aerospace and defense systems in the United States and internationally. It offers products in various categories, which include airframe components, structural components, avionics, composites, braking system components, de-ice and ice protection, electro-mechanical, engineered materials, flight controls, fluid and motion controls, environmental, metal forming, molded components, and restraints and safety devices.
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