Zacks: Analysts Anticipate The Lion Electric Company (NYSE:LEV) Will Announce Earnings of -$0.09 Per Share

Wall Street analysts forecast that The Lion Electric Company (NYSE:LEVGet Rating) will post earnings per share of ($0.09) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Lion Electric’s earnings, with the lowest EPS estimate coming in at ($0.12) and the highest estimate coming in at ($0.06). Lion Electric reported earnings of ($0.07) per share during the same quarter last year, which indicates a negative year over year growth rate of 28.6%. The firm is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Lion Electric will report full-year earnings of ($0.31) per share for the current financial year, with EPS estimates ranging from ($0.41) to ($0.24). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.35) per share, with EPS estimates ranging from ($0.58) to ($0.17). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Lion Electric.

Lion Electric (NYSE:LEVGet Rating) last issued its earnings results on Thursday, February 24th. The company reported ($0.04) earnings per share (EPS) for the quarter. Lion Electric had a negative return on equity of 10.19% and a negative net margin of 33.87%. The firm had revenue of $22.87 million for the quarter.

LEV has been the subject of several research analyst reports. Canaccord Genuity Group reduced their target price on Lion Electric from $12.00 to $8.00 in a research note on Thursday, May 5th. Zacks Investment Research raised Lion Electric from a “strong sell” rating to a “hold” rating and set a $7.00 price target on the stock in a research report on Tuesday, May 3rd. BMO Capital Markets lowered Lion Electric from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $22.00 to $7.00 in a research report on Thursday, February 24th. Canaccord Genuity Group initiated coverage on Lion Electric in a research report on Tuesday, March 8th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Raymond James dropped their target price on Lion Electric from $11.00 to $7.50 and set a “market perform” rating on the stock in a research report on Thursday, May 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $13.92.

Several institutional investors have recently made changes to their positions in LEV. XTX Topco Ltd acquired a new stake in Lion Electric in the 1st quarter worth approximately $96,000. Mackenzie Financial Corp lifted its holdings in shares of Lion Electric by 50.6% during the first quarter. Mackenzie Financial Corp now owns 42,773 shares of the company’s stock worth $360,000 after buying an additional 14,377 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lion Electric by 17.5% during the first quarter. Vanguard Group Inc. now owns 34,022 shares of the company’s stock worth $285,000 after buying an additional 5,061 shares during the last quarter. Cibc World Market Inc. lifted its holdings in shares of Lion Electric by 4.1% during the first quarter. Cibc World Market Inc. now owns 231,079 shares of the company’s stock worth $1,941,000 after buying an additional 9,116 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Lion Electric by 195.4% during the first quarter. BlackRock Inc. now owns 33,999 shares of the company’s stock worth $286,000 after buying an additional 22,490 shares during the last quarter.

NYSE LEV traded up $0.14 on Monday, reaching $5.35. The company had a trading volume of 767,746 shares, compared to its average volume of 673,505. The firm has a market capitalization of $1.01 billion, a PE ratio of -14.08 and a beta of 2.00. Lion Electric has a 1 year low of $4.73 and a 1 year high of $23.45. The firm has a 50-day moving average of $7.33 and a 200-day moving average of $9.00.

About Lion Electric (Get Rating)

The Lion Electric Company designs, develops, manufactures, and distributes purpose-built all-electric medium and heavy-duty urban vehicles in North America. Its products include battery systems, chassis, bus bodies, and truck cabins. The company also distributes truck and bus parts, as well as accessories.

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Earnings History and Estimates for Lion Electric (NYSE:LEV)

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