Research Analysts Offer Predictions for The Lion Electric Company’s Q3 2024 Earnings (NYSE:LEV)

The Lion Electric Company (NYSE:LEV) – Equities researchers at B. Riley lowered their Q3 2024 EPS estimates for Lion Electric in a research note issued on Tuesday, April 30th. B. Riley analyst C. Souther now forecasts that the company will post earnings of ($0.05) per share for the quarter, down from their prior estimate of ($0.04). The consensus estimate for Lion Electric’s current full-year earnings is ($0.25) per share. B. Riley also issued estimates for Lion Electric’s Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.28) EPS and FY2025 earnings at $0.12 EPS.

Lion Electric (NYSE:LEV) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $60.43 million for the quarter, compared to the consensus estimate of $93.39 million. Lion Electric had a negative return on equity of 22.01% and a negative net margin of 40.93%.

Several other equities research analysts have also recently weighed in on LEV. DA Davidson decreased their price objective on shares of Lion Electric from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Roth Mkm reissued a “buy” rating and issued a $2.50 price objective (down from $5.00) on shares of Lion Electric in a research note on Tuesday, April 23rd. National Bankshares decreased their target price on Lion Electric from $2.25 to $1.75 and set a “sector perform” rating for the company in a research note on Friday, March 1st. CIBC dropped their price target on Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Finally, Desjardins downgraded shares of Lion Electric from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $4.00 to $2.50 in a research report on Friday, March 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Lion Electric presently has a consensus rating of “Hold” and an average price target of $2.34.

Lion Electric Stock Up 6.2 %

Lion Electric stock opened at $1.02 on Thursday. The firm has a market cap of $230.70 million, a price-to-earnings ratio of -2.22 and a beta of 2.12. Lion Electric has a 52-week low of $0.88 and a 52-week high of $2.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.73 and a current ratio of 2.45. The firm has a 50 day moving average price of $1.26 and a two-hundred day moving average price of $1.58.

Hedge Funds Weigh In On Lion Electric

A number of large investors have recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Lion Electric by 7.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 250,935 shares of the company’s stock worth $479,000 after buying an additional 16,356 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Lion Electric by 9.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 191,436 shares of the company’s stock worth $366,000 after acquiring an additional 16,683 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Lion Electric by 20.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock worth $183,000 after acquiring an additional 17,285 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Lion Electric by 50.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after purchasing an additional 10,610 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock worth $52,000 after purchasing an additional 12,712 shares in the last quarter. 52.73% of the stock is currently owned by 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.