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

The Lion Electric Company (NYSE:LEV) – Research analysts at B. Riley cut their Q3 2024 EPS estimates for shares of Lion Electric in a research report issued to clients and investors on Tuesday, April 30th. B. Riley analyst C. Souther now forecasts that the company will post earnings per share of ($0.05) for the quarter, down from their prior forecast 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.

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

Lion Electric Stock Up 3.3 %

LEV stock opened at $0.93 on Thursday. The firm has a 50 day moving average of $1.29 and a 200 day moving average of $1.59. The stock has a market capitalization of $210.19 million, a PE ratio of -2.02 and a beta of 2.12. The company has a quick ratio of 0.73, a current ratio of 2.45 and a debt-to-equity ratio of 0.62. Lion Electric has a 52 week low of $0.88 and a 52 week high of $2.68.

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

Institutional Investors Weigh In On Lion Electric

Several institutional investors and hedge funds have recently added to or reduced their stakes in LEV. Victory Capital Management Inc. acquired a new stake in Lion Electric during the 4th quarter worth $28,000. Alpine Global Management LLC acquired a new stake in Lion Electric during the 3rd quarter worth $34,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 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 worth $61,000 after purchasing an additional 10,610 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its stake in Lion Electric by 20.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock worth $183,000 after purchasing an additional 17,285 shares during the last quarter. Institutional investors and hedge funds own 52.73% of the company’s stock.

Lion Electric Company Profile

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.