Loar (NYSE:LOAR) Releases FY 2024 Earnings Guidance

Loar (NYSE:LOAR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.350-0.370 for the period, compared to the consensus 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 Stock Up 1.5 %

LOAR stock opened at $82.17 on Friday. Loar has a fifty-two week low of $42.57 and a fifty-two week high of $95.35. The company’s 50 day moving average price is $78.45 and its 200 day moving average price is $65.80. 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 earnings results on Tuesday, August 13th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $97.10 million for the quarter, compared to analyst estimates of $91.70 million. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, analysts forecast that Loar will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on LOAR. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price target on shares of Loar in a research note on Thursday. Morgan Stanley lifted their price target on shares of Loar from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Citigroup raised their price objective on Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th.

About Loar

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.