Analysts Offer Predictions for Lion Electric FY2024 Earnings

The Lion Electric Company (TSE:LEV) – Analysts at Desjardins cut their FY2024 EPS estimates for Lion Electric in a research report issued on Thursday, November 7th. Desjardins analyst B. Poirier now forecasts that the company will earn ($0.62) per share for the year, down from their previous forecast of ($0.52). Desjardins has a “Hold” rating and a $1.00 price objective on the stock. The consensus estimate for Lion Electric’s current full-year earnings is ($0.48) per share. Desjardins also issued estimates for Lion Electric’s Q4 2024 earnings at ($0.14) EPS and FY2025 earnings at ($0.24) EPS.

Several other brokerages also recently commented on LEV. CIBC cut their price target on shares of Lion Electric from C$1.15 to C$0.65 and set a “neutral” rating for the company in a report on Thursday, August 1st. Roth Capital downgraded shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. DA Davidson cut Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, National Bankshares lowered their price objective on shares of Lion Electric from C$1.00 to C$0.80 and set an “underperform” rating for the company in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$0.82.

Lion Electric Stock Performance

TSE LEV opened at C$0.50 on Monday. The firm has a market cap of C$113.11 million, a P/E ratio of -0.79 and a beta of 2.59. The company’s 50 day moving average is C$0.91 and its 200-day moving average is C$1.11. Lion Electric has a 12-month low of C$0.44 and a 12-month high of C$2.67. The company has a quick ratio of 1.33, a current ratio of 2.49 and a debt-to-equity ratio of 118.61.

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.