Zacks: Analysts Anticipate The Lion Electric Company (NYSE:LEV) Will Announce Quarterly Sales of $25.10 Million

Analysts expect that The Lion Electric Company (NYSE:LEV) will report sales of $25.10 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for The Lion Electric’s earnings. The highest sales estimate is $28.00 million and the lowest is $21.30 million. The company is scheduled to announce its next earnings results on Friday, November 12th.

On average, analysts expect that The Lion Electric will report full year sales of $83.63 million for the current year, with estimates ranging from $76.90 million to $91.00 million. For the next year, analysts expect that the firm will post sales of $290.33 million, with estimates ranging from $225.00 million to $358.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for The Lion Electric.

Several equities research analysts have commented on LEV shares. Zacks Investment Research lowered The Lion Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, August 18th. Vertical Research cut The Lion Electric from a “neutral” rating to a “sell” rating in a research note on Friday, July 9th. National Bank Financial decreased their price target on The Lion Electric from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 17th. National Bankshares reduced their price objective on The Lion Electric from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 17th. Finally, CIBC assumed coverage on The Lion Electric in a research note on Monday, September 13th. They issued a “sector outperform” rating and a $20.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.86.

Hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of The Lion Electric during the 2nd quarter valued at approximately $53,000. Wells Fargo & Company MN acquired a new stake in shares of The Lion Electric during the 2nd quarter valued at approximately $110,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of The Lion Electric during the 2nd quarter valued at approximately $146,000. Cubist Systematic Strategies LLC acquired a new stake in shares of The Lion Electric during the 2nd quarter valued at approximately $184,000. Finally, Cibc World Markets Corp acquired a new stake in shares of The Lion Electric during the 1st quarter valued at approximately $102,000. Institutional investors own 7.12% of the company’s stock.

Shares of LEV stock traded down $0.36 on Monday, hitting $12.73. The company had a trading volume of 1,212,248 shares, compared to its average volume of 1,877,041. The Lion Electric has a twelve month low of $9.60 and a twelve month high of $35.25. The company has a 50-day moving average price of $13.48 and a 200-day moving average price of $16.32.

About The Lion Electric

The Lion Electric Company manufactures all-electric medium and heavy-duty urban vehicles in North America. It primarily offers buses and trucks. The company is based in Saint-Jérôme, Canada.

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

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