Brokerages Expect Ballard Power Systems, Inc. (BLDP) Will Announce Quarterly Sales of $32.40 Million

Wall Street analysts expect Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) to announce $32.40 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Ballard Power Systems’ earnings, with estimates ranging from $30.70 million to $34.00 million. Ballard Power Systems posted sales of $30.70 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that Ballard Power Systems will report full year sales of $32.40 million for the current financial year, with estimates ranging from $111.80 million to $115.00 million. For the next financial year, analysts expect that the business will post sales of $131.27 million per share, with estimates ranging from $125.50 million to $134.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Ballard Power Systems.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Wednesday, November 1st. The technology company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Ballard Power Systems had a negative net margin of 5.57% and a negative return on equity of 4.36%. The business had revenue of $31.90 million for the quarter, compared to the consensus estimate of $28.33 million. During the same period in the previous year, the firm earned ($0.02) EPS. The business’s revenue for the quarter was up 54.9% on a year-over-year basis.

BLDP has been the topic of a number of recent analyst reports. FBR & Co restated a “buy” rating on shares of Ballard Power Systems in a report on Wednesday, September 6th. HC Wainwright restated a “buy” rating and set a $6.00 price target (up previously from $3.00) on shares of Ballard Power Systems in a report on Friday, September 15th. Cowen boosted their price target on shares of Ballard Power Systems from $3.00 to $4.50 and gave the company a “market perform” rating in a report on Friday, September 15th. Zacks Investment Research upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a report on Tuesday, October 31st. Finally, Roth Capital set a $5.00 price target on shares of Ballard Power Systems and gave the company a “hold” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.50.

Shares of Ballard Power Systems (NASDAQ:BLDP) opened at $4.50 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.70 and a debt-to-equity ratio of 0.05. Ballard Power Systems has a fifty-two week low of $1.65 and a fifty-two week high of $5.93. The company has a market cap of $769.63, a P/E ratio of -112.50 and a beta of 2.51.

Institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new position in Ballard Power Systems in the 2nd quarter valued at approximately $105,000. First Manhattan Co. bought a new stake in Ballard Power Systems in the third quarter worth approximately $126,000. Jane Street Group LLC bought a new stake in Ballard Power Systems in the third quarter worth approximately $141,000. Renaissance Technologies LLC grew its position in Ballard Power Systems by 483.1% in the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after acquiring an additional 137,200 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Ballard Power Systems by 16.9% in the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after acquiring an additional 26,314 shares in the last quarter. Hedge funds and other institutional investors own 3.06% of the company’s stock.

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Ballard Power Systems Company Profile

Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.

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Earnings History and Estimates for Ballard Power Systems (NASDAQ:BLDP)

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