Zacks Research Has Optimistic Outlook of HOVR Q1 Earnings

Key Points

• Zacks Research raised its Q1 2027 EPS estimate for New Horizon Aircraft to ($0.08) from ($0.13), signaling a slightly better earnings outlook even though the company is still expected to post a loss.
• The analyst firm also lifted estimates across later quarters and fiscal 2027, while Wall Street’s overall view remains Hold with an average price target of $14.50.
• Separately, New Horizon Aircraft’s stock was down 4% around the time of the report, and the company recently said it beat quarterly EPS estimates by reporting ($0.09) versus the expected ($0.11).

New Horizon Aircraft Ltd. (NASDAQ:HOVR - Free Report) - Stock analysts at Zacks Research increased their Q1 2027 earnings per share estimates for shares of New Horizon Aircraft in a report issued on Friday, July 17th. Zacks Research analyst B. Lantier now anticipates that the company will post earnings per share of ($0.08) for the quarter, up from their prior estimate of ($0.13). The consensus estimate for New Horizon Aircraft's current full-year earnings is ($0.55) per share. Zacks Research also issued estimates for New Horizon Aircraft's Q2 2027 earnings at ($0.09) EPS, Q3 2027 earnings at ($0.09) EPS, Q4 2027 earnings at ($0.10) EPS and FY2027 earnings at ($0.34) EPS.

Several other research analysts also recently commented on the stock. D. Boral Capital reaffirmed a "buy" rating and issued a $11.00 price target on shares of New Horizon Aircraft in a research note on Tuesday, April 14th. Weiss Ratings reissued a "sell (e+)" rating on shares of New Horizon Aircraft in a research report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of New Horizon Aircraft from a "strong sell" rating to a "sell" rating in a research note on Saturday, July 18th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $14.50.

New Horizon Aircraft Trading Down 4.0%

Shares of HOVR opened at $1.91 on Thursday. The firm has a market capitalization of $107.69 million, a P/E ratio of -3.35 and a beta of 3.84. New Horizon Aircraft has a 12-month low of $1.16 and a 12-month high of $4.18. The firm has a fifty day moving average price of $2.17 and a 200-day moving average price of $1.99.

New Horizon Aircraft (NASDAQ:HOVR - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new stake in shares of New Horizon Aircraft in the 2nd quarter valued at about $27,000. LPL Financial LLC purchased a new position in New Horizon Aircraft during the fourth quarter valued at approximately $35,000. Scientech Research LLC purchased a new position in New Horizon Aircraft during the third quarter valued at approximately $35,000. Gabelli Funds LLC raised its stake in New Horizon Aircraft by 72.9% in the first quarter. Gabelli Funds LLC now owns 25,306 shares of the company's stock worth $36,000 after buying an additional 10,673 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in New Horizon Aircraft in the second quarter worth approximately $38,000. 65.97% of the stock is currently owned by institutional investors.

Key Stories Impacting New Horizon Aircraft

Here are the key news stories impacting New Horizon Aircraft this week:

• Positive Sentiment: New Horizon Aircraft signed an LOI with V-Star Powered Lift Aviation for up to 100 hybrid eVTOLs, a potential $600 million order that points to strong commercial interest in its aircraft. Horizon Aircraft Secures LOI with V-Star Powered Lift Aviation for the Purchase of Up to 100 Hybrid eVTOLs for $600 Million
• Positive Sentiment: Zacks Research raised earnings estimates for fiscal 2027 and the 2027 quarters, indicating analysts see a somewhat better earnings path than before, even though losses are still expected.
• Neutral Sentiment: Zacks Research also lifted its 2028 estimates, which reflects gradually improving expectations for the business but does not yet change the fact that the company is still projected to lose money.

New Horizon Aircraft Company Profile

New Horizon Aircraft Ltd., an aerospace original equipment manufacturer company, focuses on designing and developing hybrid electric vertical takeoff and landing (eVTOL) aircraft for the regional air mobility market in the Uinted States. The company is developing Cavorite X7, a hybrid electric 7-seat aircraft that can take off and land vertically like and helicopter. New Horizon Aircraft Ltd. was founded in 2013 and is headquartered in Lindsay, Canada.

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