Analysts Expect Ballard Power Systems Inc (NASDAQ:BLDP) Will Post Quarterly Sales of $22.10 Million

Wall Street brokerages forecast that Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) will report $22.10 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Ballard Power Systems’ earnings, with the lowest sales estimate coming in at $22.00 million and the highest estimate coming in at $22.20 million. Ballard Power Systems reported sales of $26.45 million in the same quarter last year, which indicates a negative year-over-year growth rate of 16.4%. The business is expected to issue its next earnings report after the market closes on Wednesday, July 31st.

According to Zacks, analysts expect that Ballard Power Systems will report full year sales of $95.50 million for the current fiscal year, with estimates ranging from $93.90 million to $97.10 million. For the next year, analysts forecast that the firm will post sales of $136.20 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Ballard Power Systems.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. Ballard Power Systems had a negative return on equity of 14.37% and a negative net margin of 36.58%. The firm had revenue of $16.00 million during the quarter, compared to analyst estimates of $20.63 million. During the same period last year, the company earned ($0.03) EPS. Ballard Power Systems’s quarterly revenue was down 20.4% compared to the same quarter last year.



A number of equities research analysts have weighed in on BLDP shares. BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Roth Capital reaffirmed a “sell” rating on shares of Ballard Power Systems in a research report on Monday, July 1st. TheStreet lowered AMERCO from a “b” rating to a “c+” rating in a research report on Monday, March 25th. Finally, Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $3.70.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP increased its holdings in shares of Ballard Power Systems by 31.4% in the 4th quarter. First Trust Advisors LP now owns 217,448 shares of the technology company’s stock valued at $520,000 after acquiring an additional 51,926 shares during the period. Alps Advisors Inc. increased its holdings in shares of Ballard Power Systems by 57.4% in the 1st quarter. Alps Advisors Inc. now owns 126,222 shares of the technology company’s stock valued at $380,000 after acquiring an additional 46,046 shares during the period. Millennium Management LLC purchased a new position in shares of Ballard Power Systems in the 4th quarter valued at $81,000. Two Sigma Securities LLC purchased a new position in shares of Ballard Power Systems in the 4th quarter valued at $54,000. Finally, Toronto Dominion Bank increased its holdings in shares of Ballard Power Systems by 87.6% in the 1st quarter. Toronto Dominion Bank now owns 32,737 shares of the technology company’s stock valued at $99,000 after acquiring an additional 15,286 shares during the period. 2.58% of the stock is owned by institutional investors and hedge funds.

NASDAQ BLDP remained flat at $$3.99 on Monday. The company’s stock had a trading volume of 518,610 shares, compared to its average volume of 804,263. The company has a current ratio of 5.35, a quick ratio of 4.67 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $3.93. The stock has a market capitalization of $928.09 million, a P/E ratio of -30.69 and a beta of 1.78. Ballard Power Systems has a 1-year low of $2.25 and a 1-year high of $4.62.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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