-$0.07 EPS Expected for Lithium Americas Corp (NYSE:LAC) This Quarter
Wall Street analysts expect Lithium Americas Corp (NYSE:LAC) to report ($0.07) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Lithium Americas’ earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.09). Lithium Americas posted earnings per share of ($0.08) in the same quarter last year, which indicates a positive year-over-year growth rate of 12.5%. The business is expected to report its next quarterly earnings report on Tuesday, August 13th.
On average, analysts expect that Lithium Americas will report full year earnings of ($0.31) per share for the current financial year, with EPS estimates ranging from ($0.42) to ($0.18). For the next financial year, analysts forecast that the business will report earnings of ($0.54) per share, with EPS estimates ranging from ($0.72) to ($0.35). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Lithium Americas.
Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The firm had revenue of $1.28 million for the quarter, compared to analysts’ expectations of $1.80 million. Lithium Americas had a negative return on equity of 26.10% and a negative net margin of 560.33%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley increased its position in shares of Lithium Americas by 1.9% in the first quarter. Morgan Stanley now owns 1,311,611 shares of the company’s stock worth $4,959,000 after purchasing an additional 24,798 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lithium Americas in the fourth quarter worth $2,519,000. Virtu Financial LLC bought a new position in shares of Lithium Americas in the first quarter worth $224,000. Millennium Management LLC increased its position in shares of Lithium Americas by 37.8% in the fourth quarter. Millennium Management LLC now owns 19,605 shares of the company’s stock worth $62,000 after purchasing an additional 5,379 shares during the period. Finally, HighTower Advisors LLC bought a new position in shares of Lithium Americas in the first quarter worth $59,000. Institutional investors own 5.49% of the company’s stock.
LAC stock traded down $0.10 during trading hours on Wednesday, hitting $3.82. 64,600 shares of the stock were exchanged, compared to its average volume of 206,393. The company has a debt-to-equity ratio of 0.70, a current ratio of 10.38 and a quick ratio of 9.93. The stock has a market capitalization of $338.08 million, a price-to-earnings ratio of -14.69 and a beta of 1.43. Lithium Americas has a 12 month low of $2.75 and a 12 month high of $5.79.
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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