The Lion Electric Company (TSE:LEV) Forecasted to Post Q3 2024 Earnings of ($0.21) Per Share

The Lion Electric Company (TSE:LEV) – Equities research analysts at Roth Capital reduced their Q3 2024 earnings estimates for shares of Lion Electric in a research report issued on Wednesday, July 31st. Roth Capital analyst C. Irwin now anticipates that the company will post earnings of ($0.21) per share for the quarter, down from their previous forecast of ($0.14). Roth Capital currently has a “Hold” rating on the stock. The consensus estimate for Lion Electric’s current full-year earnings is ($0.48) per share. Roth Capital also issued estimates for Lion Electric’s Q4 2024 earnings at ($0.12) EPS, FY2024 earnings at ($0.60) EPS and FY2025 earnings at ($0.34) EPS.

Several other equities analysts have also weighed in on the stock. Desjardins cut their price objective on shares of Lion Electric from C$1.50 to C$1.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. CIBC cut their price target on shares of Lion Electric from C$1.15 to C$0.65 and set a “neutral” rating on the stock in a report on Thursday, August 1st. B. Riley upgraded shares of Lion Electric to a “strong-buy” rating in a report on Tuesday, June 25th. National Bank Financial cut Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a research report on Wednesday, May 8th. Finally, National Bankshares lowered their price objective on Lion Electric from C$1.00 to C$0.80 and set an “underperform” rating on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$0.82.

Lion Electric Stock Down 1.2 %

Shares of Lion Electric stock opened at C$0.85 on Monday. The stock has a 50-day simple moving average of C$1.30 and a 200-day simple moving average of C$1.65. Lion Electric has a 52-week low of C$0.79 and a 52-week high of C$3.15. The firm has a market cap of C$192.29 million, a price-to-earnings ratio of -1.27 and a beta of 2.74. The company has a debt-to-equity ratio of 104.69, a current ratio of 2.65 and a quick ratio of 1.33.

Lion Electric (TSE:LEV) last issued its earnings results on Wednesday, May 8th. The company reported C($0.02) EPS for the quarter, beating analysts’ consensus estimates of C($0.10) by C$0.08. Lion Electric had a negative return on equity of 28.75% and a negative net margin of 43.21%. The firm had revenue of C$74.80 million for the quarter, compared to the consensus estimate of C$97.28 million.

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.