Q3 2024 EPS Estimates for The Lion Electric Company (NYSE:LEV) Reduced by Analyst

The Lion Electric Company (NYSE:LEV) – Stock analysts at Roth Capital cut their Q3 2024 earnings estimates for shares of Lion Electric in a report released on Wednesday, July 31st. Roth Capital analyst C. Irwin now forecasts that the company will post earnings of ($0.15) per share for the quarter, down from their previous forecast of ($0.10). Roth Capital currently has a “Hold” rating on the stock. The consensus estimate for Lion Electric’s current full-year earnings is ($0.32) per share. Roth Capital also issued estimates for Lion Electric’s Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.43) EPS and FY2025 earnings at ($0.25) EPS.

Lion Electric (NYSE:LEV) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The company had revenue of $55.48 million for the quarter, compared to analyst estimates of $71.82 million. Lion Electric had a negative net margin of 51.81% and a negative return on equity of 26.26%.

Several other research analysts have also weighed in on the stock. Barclays lowered their price objective on shares of Lion Electric from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. CIBC decreased their price target on shares of Lion Electric from $1.70 to $1.40 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Roth Mkm decreased their price target on shares of Lion Electric from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. DA Davidson decreased their price target on shares of Lion Electric from $3.50 to $1.50 and set a “buy” rating on the stock in a research note on Monday, May 13th. Finally, National Bank Financial lowered shares of Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a research note on Wednesday, May 8th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $1.59.

Lion Electric Stock Up 3.3 %

Lion Electric stock opened at $0.59 on Monday. The firm has a market capitalization of $134.04 million, a PE ratio of -1.21 and a beta of 2.14. The company’s 50-day moving average is $0.93 and its 200-day moving average is $1.20. Lion Electric has a fifty-two week low of $0.57 and a fifty-two week high of $2.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.49 and a quick ratio of 0.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. acquired a new position in shares of Lion Electric during the 4th quarter worth approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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. Atria Wealth Solutions Inc. lifted its holdings in shares of 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 acquiring an additional 17,285 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Lion Electric by 14.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock worth $341,000 after acquiring an additional 30,050 shares during the period. Institutional investors and hedge funds own 52.73% of the company’s stock.

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.