Loar (NYSE:LOAR - Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.35-0.37 for the period, compared to the consensus estimate of $0.42. The company issued revenue guidance of $390-394 million, compared to the consensus revenue estimate of $386.15 million. Loar also updated its FY 2024 guidance to 0.350-0.370 EPS.
Loar Price Performance
NYSE LOAR traded down $7.17 on Wednesday, reaching $80.94. The company had a trading volume of 664,221 shares, compared to its average volume of 298,682. Loar has a 1 year low of $42.57 and a 1 year high of $95.35. The firm has a 50-day moving average of $78.25 and a 200-day moving average of $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 (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, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. The company's revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities analysts anticipate that Loar will post 0.37 EPS for the current year.
Wall Street Analyst Weigh In
LOAR has been the topic of a number of analyst reports. Citigroup upped their price target on Loar from $64.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. Morgan Stanley increased 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 reaffirmed an "outperform" rating and set a $80.00 price objective on shares of Loar in a research report on Monday, October 7th.
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About Loar
(
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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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