Analysts Anticipate Lithium Americas Corp (NYSE:LAC) to Announce -$0.07 Earnings Per Share
Wall Street analysts predict that Lithium Americas Corp (NYSE:LAC) will report ($0.07) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Lithium Americas’ earnings. Lithium Americas reported earnings per share of ($0.06) in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.7%. The company is expected to report its next quarterly earnings results on Tuesday, November 10th.
According to Zacks, analysts expect that Lithium Americas will report full year earnings of ($0.40) per share for the current fiscal year, with EPS estimates ranging from ($0.53) to ($0.26). For the next financial year, analysts anticipate that the firm will post earnings of ($0.55) per share. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Lithium Americas.
Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.01.
Several hedge funds and other institutional investors have recently made changes to their positions in LAC. UBS Group AG grew its stake in shares of Lithium Americas by 172.9% in the 2nd quarter. UBS Group AG now owns 5,457 shares of the company’s stock valued at $28,000 after buying an additional 3,457 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Lithium Americas in the second quarter worth approximately $53,000. Raymond James & Associates acquired a new stake in Lithium Americas in the first quarter valued at approximately $30,000. AE Wealth Management LLC bought a new stake in shares of Lithium Americas during the first quarter valued at approximately $36,000. Finally, Advisor Group Holdings Inc. acquired a new position in shares of Lithium Americas during the first quarter worth approximately $47,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.
NYSE LAC traded up $0.26 during mid-day trading on Friday, reaching $9.05. 122,249 shares of the stock were exchanged, compared to its average volume of 798,621. The stock has a market cap of $798.90 million, a P/E ratio of 20.84 and a beta of 1.82. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 4.05. Lithium Americas has a one year low of $1.92 and a one year high of $9.19. The stock has a 50 day simple moving average of $7.21 and a 200-day simple moving average of $4.72.
About Lithium Americas
Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It primarily holds interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and owns a 100% interest in the Thacker Pass lithium project located in Nevada. The company also manufactures and sells organoclay products that are used in complex oil and gas drilling and other applications.
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