Loar (NYSE:LOAR) Updates FY24 Earnings Guidance

Loar (NYSE:LOAR) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.35-0.37 for the period, compared to the consensus earnings per share estimate of $0.42. The company issued revenue guidance of $390-394 million, compared to the consensus revenue estimate of $386.15 million. Loar also updated its FY25 guidance to $0.45-0.50 EPS.

Loar Stock Performance

Loar stock opened at $88.11 on Wednesday. Loar has a 52-week low of $42.57 and a 52-week high of $95.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.09 and a current ratio of 4.86. The firm has a 50 day moving average price of $78.25 and a two-hundred day moving average price of $65.69.

Loar (NYSE:LOAR) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. The company’s quarterly revenue was up 31.2% on a year-over-year basis. As a group, equities research analysts forecast that Loar will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LOAR shares. Morgan Stanley upped their price target on Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Citigroup raised their price target on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Loar in a research report on Monday, October 7th.

About Loar

Loar Holdings Inc, through its subsidiaries, designs, manufactures, and markets aerospace and defense components for aircraft, and aerospace and defense systems in the United States and internationally. It offers products in various categories, which include airframe components, structural components, avionics, composites, braking system components, de-ice and ice protection, electro-mechanical, engineered materials, flight controls, fluid and motion controls, environmental, metal forming, molded components, and restraints and safety devices.