$21.20 Million in Sales Expected for The Lion Electric Company (NYSE:LEV) This Quarter

Wall Street brokerages expect The Lion Electric Company (NYSE:LEVGet Rating) to post $21.20 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Lion Electric’s earnings, with the highest sales estimate coming in at $23.60 million and the lowest estimate coming in at $19.00 million. Lion Electric reported sales of $6.23 million in the same quarter last year, which indicates a positive year-over-year growth rate of 240.3%. The business is expected to report its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Lion Electric will report full-year sales of $175.43 million for the current year, with estimates ranging from $139.10 million to $197.20 million. For the next fiscal year, analysts anticipate that the business will report sales of $650.23 million, with estimates ranging from $612.60 million to $722.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Lion Electric.

Lion Electric (NYSE:LEVGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $22.87 million during the quarter. Lion Electric had a negative net margin of 75.07% and a negative return on equity of 25.74%.

LEV has been the subject of several research analyst reports. Raymond James dropped their price target on shares of Lion Electric from $17.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, February 28th. National Bankshares dropped their price target on shares of Lion Electric from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, February 2nd. National Bank Financial dropped their price target on shares of Lion Electric from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, February 2nd. Zacks Investment Research lowered shares of Lion Electric from a “hold” rating to a “sell” rating in a research report on Friday, February 4th. Finally, Canaccord Genuity Group started coverage on shares of Lion Electric in a research note on Tuesday, March 8th. They set a “buy” rating and a $12.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.41.

Shares of LEV stock opened at $6.91 on Thursday. Lion Electric has a one year low of $6.77 and a one year high of $23.45. The company has a 50 day moving average price of $8.03 and a 200 day moving average price of $9.64. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -12.80 and a beta of 1.74.

Several hedge funds have recently made changes to their positions in LEV. 1832 Asset Management L.P. purchased a new position in shares of Lion Electric in the fourth quarter valued at $26,000. Shell Asset Management Co. purchased a new position in shares of Lion Electric in the fourth quarter valued at $48,000. Toronto Dominion Bank boosted its stake in shares of Lion Electric by 9,901.8% in the fourth quarter. Toronto Dominion Bank now owns 5,701 shares of the company’s stock valued at $56,000 after purchasing an additional 5,644 shares during the period. Wells Fargo & Company MN purchased a new position in shares of Lion Electric in the second quarter valued at $110,000. Finally, BlackRock Inc. boosted its stake in shares of Lion Electric by 93.9% in the fourth quarter. BlackRock Inc. now owns 11,509 shares of the company’s stock valued at $114,000 after purchasing an additional 5,573 shares during the period. Institutional investors and hedge funds own 6.88% of the company’s stock.

Lion Electric Company Profile (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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