Loar (NYSE:LOAR) Issues FY24 Earnings Guidance

Loar (NYSE:LOAR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.44-0.46 for the period, compared to the consensus estimate of $0.39. The company issued revenue guidance of $374-378 million, compared to the consensus revenue estimate of $373.16 million. Loar also updated its FY 2024 guidance to 0.440-0.460 EPS.

Analysts Set New Price Targets

LOAR has been the topic of several recent analyst reports. Citigroup began coverage on shares of Loar in a report on Monday, May 20th. They set a buy rating and a $64.00 price objective on the stock. Royal Bank of Canada assumed coverage on shares of Loar in a research note on Monday, May 20th. They set an outperform rating and a $60.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of Loar in a research note on Monday, June 3rd. They set a buy rating and a $65.00 price objective for the company. Finally, Morgan Stanley began coverage on Loar in a research report on Monday, May 20th. They issued an equal weight rating and a $55.00 target price on the stock.

Loar Price Performance

LOAR opened at $74.36 on Wednesday. Loar has a 1 year low of $42.57 and a 1 year high of $75.39. The business’s 50 day simple moving average is $58.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 1.68.

Loar (NYSE:LOAR) last issued its earnings results on Tuesday, May 14th. The company reported $11,023.54 EPS for the quarter. The business had revenue of $91.84 million during the quarter. As a group, analysts forecast that Loar will post 0.5 earnings per share for the current fiscal year.

Loar Company Profile

Loar Holdings Inc is a diversified manufacturer and supplier of niche aerospace and defense components for aircraft and aerospace and defense systems. Loar Holdings Inc is based in WHITE PLAINS, NY.