Analysts expect Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) to post sales of $31.27 million for the current quarter, according to Zacks. Three analysts have made estimates for Ballard Power Systems’ earnings, with the lowest sales estimate coming in at $29.00 million and the highest estimate coming in at $32.40 million. Ballard Power Systems reported sales of $31.85 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.8%. The company is scheduled to announce its next earnings results on Wednesday, November 7th.
On average, analysts expect that Ballard Power Systems will report full-year sales of $116.70 million for the current year, with estimates ranging from $110.50 million to $120.00 million. For the next year, analysts forecast that the company will report sales of $150.83 million, with estimates ranging from $140.00 million to $162.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ballard Power Systems.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Wednesday, August 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The company had revenue of $26.45 million during the quarter, compared to analyst estimates of $23.33 million. Ballard Power Systems had a negative return on equity of 9.99% and a negative net margin of 11.58%.
Several research firms have recently issued reports on BLDP. BidaskClub upgraded Ballard Power Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. HC Wainwright set a $6.00 price objective on Ballard Power Systems and gave the company a “buy” rating in a report on Wednesday, September 19th. ValuEngine upgraded Ballard Power Systems from a “hold” rating to a “buy” rating in a report on Monday, September 17th. B. Riley set a $5.00 price objective on Ballard Power Systems and gave the company a “buy” rating in a report on Tuesday, September 4th. Finally, Zacks Investment Research cut Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $4.58.
Large investors have recently added to or reduced their stakes in the company. Global X Management Co LLC bought a new position in shares of Ballard Power Systems during the 2nd quarter valued at about $231,000. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Ballard Power Systems by 49.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 92,640 shares of the technology company’s stock valued at $264,000 after purchasing an additional 30,694 shares in the last quarter. KBC Group NV lifted its holdings in shares of Ballard Power Systems by 104.8% during the 1st quarter. KBC Group NV now owns 92,841 shares of the technology company’s stock valued at $330,000 after purchasing an additional 47,515 shares in the last quarter. PCJ Investment Counsel Ltd. lifted its holdings in shares of Ballard Power Systems by 16.6% during the 1st quarter. PCJ Investment Counsel Ltd. now owns 140,410 shares of the technology company’s stock valued at $500,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Ballard Power Systems by 38.8% during the 1st quarter. Royal Bank of Canada now owns 140,805 shares of the technology company’s stock valued at $500,000 after purchasing an additional 39,370 shares in the last quarter. Institutional investors and hedge funds own 3.78% of the company’s stock.
Shares of Ballard Power Systems stock traded up $0.06 during trading on Monday, hitting $4.02. 1,942,773 shares of the company were exchanged, compared to its average volume of 1,294,562. The firm has a market capitalization of $715.22 million, a P/E ratio of -132.33 and a beta of 1.69. Ballard Power Systems has a 1-year low of $2.57 and a 1-year high of $5.93. The company has a current ratio of 2.64, a quick ratio of 1.83 and a debt-to-equity ratio of 0.05.
About Ballard Power Systems
Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.
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