Lion Electric FY2024 EPS Estimate Decreased by Desjardins

The Lion Electric Company (NYSE:LEV) – Stock analysts at Desjardins cut their FY2024 earnings per share (EPS) estimates for shares of Lion Electric in a research report issued to clients and investors on Thursday, November 7th. Desjardins analyst B. Poirier now forecasts that the company will post earnings per share of ($0.44) 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.

Other equities research analysts have also issued reports about the company. Roth Capital lowered Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. BMO Capital Markets decreased their target price on Lion Electric from $0.80 to $0.60 and set a “market perform” rating for the company in a research report on Friday, November 8th. Finally, DA Davidson reiterated a “neutral” rating and set a $1.00 price target (down previously from $1.50) on shares of Lion Electric in a report on Monday, August 12th. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1.46.

Lion Electric Stock Down 8.1 %

Shares of Lion Electric stock opened at $0.37 on Monday. The firm has a market cap of $83.20 million, a price-to-earnings ratio of -0.68 and a beta of 2.14. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 0.53. Lion Electric has a 52-week low of $0.32 and a 52-week high of $1.99. The stock has a 50-day simple moving average of $0.67 and a 200-day simple moving average of $0.81.

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

Institutional Investors Weigh In On Lion Electric

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in Lion Electric during the second quarter worth $40,000. Cubist Systematic Strategies LLC acquired a new stake in Lion Electric during the second quarter worth $62,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Lion Electric by 14.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 239,839 shares of the company’s stock worth $341,000 after buying an additional 30,050 shares in the last quarter. 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.