Equities Analysts Offer Predictions for The Lion Electric Company’s Q3 2024 Earnings (NYSE:LEV)

The Lion Electric Company (NYSE:LEV) – Research analysts at B. Riley cut their Q3 2024 earnings estimates for shares of Lion Electric in a note issued to investors on Tuesday, April 30th. B. Riley analyst C. Souther now expects that the company will earn ($0.05) per share for the quarter, down from their prior estimate of ($0.04). The consensus estimate for Lion Electric’s current full-year earnings is ($0.25) per share. B. Riley also issued estimates for Lion Electric’s Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.28) EPS and FY2025 earnings at $0.12 EPS.

LEV has been the topic of a number of other reports. CIBC dropped 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 restated a “buy” rating and set a $2.50 price target (down from $5.00) on shares of Lion Electric in a research note on Tuesday, April 23rd. DA Davidson dropped their price target on shares of Lion Electric from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Desjardins cut shares of Lion Electric from a “buy” rating to a “hold” rating and dropped their price target for the company from $4.00 to $2.50 in a research note on Friday, March 1st. Finally, National Bankshares lowered their target price on shares of Lion Electric from $2.25 to $1.75 and set a “sector perform” rating on the stock in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Lion Electric presently has a consensus rating of “Hold” and an average price target of $2.34.

Lion Electric Stock Up 3.3 %

LEV opened at $0.93 on Thursday. The company has a quick ratio of 0.73, a current ratio of 2.45 and a debt-to-equity ratio of 0.62. The stock has a market cap of $210.19 million, a price-to-earnings ratio of -2.02 and a beta of 2.12. Lion Electric has a twelve month low of $0.88 and a twelve month high of $2.68. The company’s 50-day moving average price is $1.29 and its two-hundred day moving average price is $1.59.

Lion Electric (NYSE:LEV) last released its earnings results on Thursday, February 29th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $60.43 million during the quarter, compared to analysts’ expectations of $93.39 million. Lion Electric had a negative net margin of 40.93% and a negative return on equity of 22.01%.

Hedge Funds Weigh In On Lion Electric

Several institutional investors and hedge funds have recently made changes to their positions in LEV. Victory Capital Management Inc. bought a new position in shares of Lion Electric during the 4th quarter valued at $28,000. Alpine Global Management LLC purchased a new stake in Lion Electric during the 3rd quarter valued at $34,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Lion Electric by 75.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,599 shares of the company’s stock valued at $52,000 after buying an additional 12,712 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Lion Electric by 50.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 31,829 shares of the company’s stock valued at $61,000 after buying an additional 10,610 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its position in Lion Electric by 20.1% during the 4th quarter. Atria Wealth Solutions Inc. now owns 103,310 shares of the company’s stock valued at $183,000 after buying an additional 17,285 shares during the period. Institutional investors own 52.73% of the company’s stock.

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.