Loar (NYSE:LOAR) Releases FY 2024 Earnings Guidance

Loar (NYSE:LOAR) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.440-0.460 for the period, compared to the consensus earnings per share estimate of 0.420. The company issued revenue guidance of $374.0 million-$378.0 million, compared to the consensus revenue estimate of $373.2 million. Loar also updated its FY24 guidance to $0.44-0.46 EPS.

Loar Trading Up 15.2 %

Loar stock traded up $9.48 during mid-day trading on Tuesday, hitting $71.79. The company had a trading volume of 113,920 shares, compared to its average volume of 311,616. The company has a current ratio of 3.09, a quick ratio of 1.68 and a debt-to-equity ratio of 1.26. Loar has a 12-month low of $42.57 and a 12-month high of $72.21. The firm’s fifty day moving average is $58.25.

Loar (NYSE:LOAR) last announced its earnings results on Tuesday, May 14th. The company reported $11,023.54 earnings per share (EPS) for the quarter. The business had revenue of $91.84 million for the quarter. Analysts anticipate that Loar will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Loar in a report on Monday, May 20th. They issued a buy rating and a $64.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Loar in a research note on Monday, June 3rd. They set a buy rating and a $65.00 price target on the stock. Morgan Stanley began coverage on Loar in a research report on Monday, May 20th. They set an equal weight rating and a $55.00 price objective for the company. Finally, Royal Bank of Canada began coverage on Loar in a research report on Monday, May 20th. They set an outperform rating and a $60.00 price objective for the company.

Loar Company Profile

Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.