FY2024 EPS Estimates for Lion Electric Decreased by Analyst

The Lion Electric Company (NYSE:LEV) – Equities researchers at Desjardins cut their FY2024 earnings estimates for Lion Electric in a research note issued to investors on Thursday, November 7th. Desjardins analyst B. Poirier now expects that the company will post earnings of ($0.44) per share for the year, down from their prior estimate of ($0.37). The consensus estimate for Lion Electric’s current full-year earnings is ($0.44) per share. Desjardins also issued estimates for Lion Electric’s Q4 2024 earnings at ($0.10) EPS and FY2025 earnings at ($0.17) EPS.

A number of other research firms have also recently issued reports on LEV. DA Davidson restated a “neutral” rating and set a $1.00 target price (down previously from $1.50) on shares of Lion Electric in a research note on Monday, August 12th. Roth Capital downgraded Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets dropped their price target on Lion Electric from $0.80 to $0.60 and set a “market perform” rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $1.46.

Lion Electric Stock Up 16.4 %

LEV stock opened at $0.40 on Monday. The business’s 50 day simple moving average is $0.67 and its 200 day simple moving average is $0.81. Lion Electric has a 1-year low of $0.32 and a 1-year high of $1.99. The firm has a market capitalization of $91.35 million, a PE ratio of -0.68 and a beta of 2.14. The company has a current ratio of 1.12, a quick ratio of 0.53 and a debt-to-equity ratio of 0.52.

Lion Electric (NYSE:LEV) last issued its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $30.63 million during the quarter, compared to analyst estimates of $34.33 million. Lion Electric had a negative net margin of 74.35% and a negative return on equity of 32.42%. During the same quarter last year, the business posted ($0.10) earnings per share.

Institutional Trading of Lion Electric

Several large investors have recently bought and sold shares of LEV. Cubist Systematic Strategies LLC acquired a new stake in shares of Lion Electric in the 2nd quarter valued at approximately $62,000. XTX Topco Ltd acquired a new position in shares of Lion Electric during the second quarter worth $40,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Lion Electric by 14.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock valued at $341,000 after acquiring an additional 30,050 shares during the last quarter. 52.73% of the stock is owned by institutional investors and hedge funds.

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.