Loar (NYSE:LOAR) Updates FY 2024 Earnings Guidance

Loar (NYSE:LOAR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.350-0.370 for the period, compared to the consensus earnings per share 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.

Loar Price Performance

Shares of Loar stock opened at $80.80 on Friday. The stock’s 50-day moving average is $78.90 and its 200-day moving average is $66.13. Loar has a one year low of $42.57 and a one year high of $95.35. 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 (NYSE:LOAR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $97.10 million during the quarter, compared to the consensus estimate of $91.70 million. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. Research analysts anticipate that Loar will post 0.37 earnings per share for the current year.

Analyst Ratings Changes

LOAR has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Loar in a report on Thursday. Citigroup upped their target price on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley upped their target price on Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th.

Loar Company Profile

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.