The Lion Electric Company (TSE:LEV) Forecasted to Post Q3 2024 Earnings of ($0.07) Per Share

The Lion Electric Company (TSE:LEV) – Analysts at B. Riley cut their Q3 2024 earnings per share estimates for Lion Electric in a research note issued on Tuesday, April 30th. B. Riley analyst C. Souther now forecasts that the company will post earnings of ($0.07) per share for the quarter, down from their prior estimate of ($0.05). The consensus estimate for Lion Electric’s current full-year earnings is ($0.48) per share. B. Riley also issued estimates for Lion Electric’s Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.38) EPS and FY2025 earnings at $0.16 EPS.

Separately, Desjardins downgraded Lion Electric from a “buy” rating to a “hold” rating in a report on Friday, March 1st.

Lion Electric Stock Performance

Shares of LEV stock opened at C$1.41 on Thursday. The company has a current ratio of 2.45, a quick ratio of 1.33 and a debt-to-equity ratio of 88.29. The company has a market cap of C$318.97 million, a PE ratio of -2.24 and a beta of 2.62. The company’s fifty day simple moving average is C$1.70 and its 200-day simple moving average is C$2.13. Lion Electric has a 52 week low of C$1.22 and a 52 week high of C$3.53.

Lion Electric (TSE:LEV) last issued its earnings results on Thursday, February 29th. The company reported C($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.13) by C($0.04). The firm had revenue of C$82.28 million for the quarter, compared to analysts’ expectations of C$128.31 million. Lion Electric had a negative return on equity of 26.07% and a negative net margin of 40.93%.

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.