Wall Street analysts expect Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) to announce $20.89 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Ballard Power Systems' earnings, with the highest sales estimate coming in at $23.00 million and the lowest estimate coming in at $18.10 million. Ballard Power Systems posted sales of $25.82 million during the same quarter last year, which suggests a negative year-over-year growth rate of 19.1%. The business is expected to issue its next earnings results on Wednesday, August 4th.
On average, analysts expect that Ballard Power Systems will report full year sales of $96.79 million for the current year, with estimates ranging from $83.70 million to $104.38 million. For the next fiscal year, analysts anticipate that the firm will report sales of $144.59 million, with estimates ranging from $120.00 million to $169.11 million. Zacks' sales calculations are an average based on a survey of sell-side research analysts that cover Ballard Power Systems.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Sunday, May 2nd. The technology company reported ($0.06) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.05) by ($0.01). Ballard Power Systems had a negative return on equity of 7.08% and a negative net margin of 56.85%. The company had revenue of $17.62 million during the quarter, compared to analysts' expectations of $25.74 million.
A number of analysts have issued reports on the company. BMO Capital Markets decreased their target price on Ballard Power Systems from $35.00 to $23.00 and set an "outperform" rating for the company in a research report on Wednesday, May 5th. Citigroup lowered their price objective on Ballard Power Systems from $42.00 to $33.00 in a research note on Friday, March 12th. TheStreet lowered shares of Ballard Power Systems from a "c-" rating to a "d+" rating in a research report on Friday, March 5th. B. Riley lowered their price target on shares of Ballard Power Systems from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Wednesday, May 5th. Finally, National Bankshares cut their price objective on shares of Ballard Power Systems from $35.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, May 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. The company has a consensus rating of "Hold" and an average price target of $29.07.
Ballard Power Systems stock opened at $17.92 on Friday. The company's 50 day moving average is $18.79. The company has a quick ratio of 25.40, a current ratio of 26.03 and a debt-to-equity ratio of 0.01. Ballard Power Systems has a twelve month low of $11.99 and a twelve month high of $42.28. The company has a market cap of $5.33 billion, a P/E ratio of -85.33 and a beta of 1.53.
A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Ballard Power Systems in the 4th quarter valued at about $55,987,000. Alps Advisors Inc. raised its stake in Ballard Power Systems by 36.2% in the first quarter. Alps Advisors Inc. now owns 2,178,454 shares of the technology company's stock valued at $53,024,000 after purchasing an additional 578,540 shares in the last quarter. Credit Suisse AG lifted its position in Ballard Power Systems by 35.6% during the fourth quarter. Credit Suisse AG now owns 2,151,945 shares of the technology company's stock valued at $50,355,000 after purchasing an additional 565,250 shares during the last quarter. First Trust Advisors LP grew its stake in Ballard Power Systems by 146.4% in the 4th quarter. First Trust Advisors LP now owns 1,975,215 shares of the technology company's stock worth $46,220,000 after buying an additional 1,173,700 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Ballard Power Systems by 12.9% in the 1st quarter. Handelsbanken Fonder AB now owns 1,403,942 shares of the technology company's stock worth $34,172,000 after buying an additional 160,836 shares during the last quarter. Institutional investors and hedge funds own 27.53% of the company's stock.
About Ballard Power Systems
Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products primarily in Canada. The company offers heavy duty modules, marine systems, fuel cell stacks, backup power systems, and material handling products. It also provides technology solutions, including engineering and technology transfer, as well as the licenses and sells intellectual property portfolio and fundamental knowledge for various proton exchange membrane fuel cell applications.
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