Loar (NYSE:LOAR) Issues FY 2024 Earnings Guidance

Loar (NYSE:LOAR) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.350-0.370 for the period, compared to the consensus EPS estimate of 0.410. The company issued revenue guidance of $390.0 million-$394.0 million, compared to the consensus revenue estimate of $386.2 million. Loar also updated its FY 2025 guidance to 0.450-0.500 EPS.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LOAR. Citigroup lifted their target price on shares of Loar from $64.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley upped their target price on shares of Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 target price on shares of Loar in a research note on Monday, October 7th.

Loar Stock Performance

NYSE LOAR traded down $7.79 on Wednesday, hitting $80.32. 160,369 shares of the company’s stock traded hands, compared to its average volume of 294,819. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.09 and a current ratio of 4.86. Loar has a 1-year low of $42.57 and a 1-year high of $95.35. The firm’s 50-day moving average price is $78.25 and its two-hundred day moving average price is $65.69.

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

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.