Brokers Offer Predictions for The Lion Electric Company’s Q3 2024 Earnings (TSE:LEV)

The Lion Electric Company (TSE:LEV) – Analysts at Desjardins issued their Q3 2024 earnings estimates for Lion Electric in a report issued on Wednesday, July 31st. Desjardins analyst B. Poirier expects that the company will post earnings of ($0.13) per share for the quarter. Desjardins has a “Hold” rating and a $1.00 price target on the stock. The consensus estimate for Lion Electric’s current full-year earnings is ($0.48) per share. Desjardins also issued estimates for Lion Electric’s Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.52) EPS and FY2025 earnings at ($0.22) EPS.

Lion Electric (TSE:LEV) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C($0.02) earnings per share (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 company had revenue of C$74.80 million for the quarter, compared to the consensus estimate of C$97.28 million.

Several other brokerages also recently commented on LEV. Roth Capital downgraded shares of Lion Electric from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. CIBC cut their target price on shares of Lion Electric from C$1.15 to C$0.65 and set a “neutral” rating on the stock in a research note on Thursday, August 1st. B. Riley raised shares of Lion Electric to a “strong-buy” rating in a research note on Tuesday, June 25th. National Bank Financial lowered shares of Lion Electric from a “sec perform spec market wgt” rating to an “underperform spec market wgt” rating in a report on Wednesday, May 8th. Finally, National Bankshares reduced their target price on Lion Electric from C$1.00 to C$0.80 and set an “underperform” rating for the company in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lion Electric presently has a consensus rating of “Hold” and an average target price of C$0.82.

Lion Electric Trading Down 1.2 %

TSE LEV opened at C$0.85 on Monday. Lion Electric has a one year low of C$0.79 and a one year high of C$3.15. The company has a debt-to-equity ratio of 104.69, a current ratio of 2.65 and a quick ratio of 1.33. The business has a 50 day simple moving average of C$1.30 and a 200 day simple moving average of C$1.65. The stock has a market capitalization of C$192.29 million, a P/E ratio of -1.27 and a beta of 2.74.

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.