Lion Electric FY2024 EPS Estimate Decreased by Desjardins

The Lion Electric Company (NYSE:LEV) – Desjardins lowered their FY2024 earnings per share estimates for Lion Electric in a research report issued on Thursday, November 7th. Desjardins analyst B. Poirier now expects 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.

Lion Electric (NYSE:LEV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $30.63 million during the quarter, compared to the consensus estimate 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 in the previous year, the business posted ($0.10) earnings per share.

LEV has been the topic of a number of other reports. BMO Capital Markets cut their target price on Lion Electric from $0.80 to $0.60 and set a “market perform” rating on the stock in a research note on Friday, November 8th. DA Davidson reissued a “neutral” rating and set a $1.00 price target (down from $1.50) on shares of Lion Electric in a report on Monday, August 12th. Finally, Roth Capital lowered Lion Electric from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 31st. Seven equities 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1.46.

Lion Electric Stock Performance

LEV stock opened at $0.37 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.53 and a current ratio of 1.12. The stock has a market capitalization of $83.20 million, a price-to-earnings ratio of -0.68 and a beta of 2.14. Lion Electric has a 1 year low of $0.32 and a 1 year high of $1.99. The stock’s fifty day moving average is $0.67 and its two-hundred day moving average is $0.81.

Hedge Funds Weigh In On Lion Electric

A number of hedge funds and other institutional investors have recently modified their holdings of LEV. Healthcare of Ontario Pension Plan Trust Fund boosted its position 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 purchasing an additional 30,050 shares during the period. XTX Topco Ltd acquired a new position in shares of Lion Electric in the 2nd quarter valued at $40,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Lion Electric during the 2nd quarter worth about $62,000. 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.