FuelCell Energy, Inc. (NASDAQ:FCEL) Expected to Post Quarterly Sales of $19.04 Million
Equities analysts predict that FuelCell Energy, Inc. (NASDAQ:FCEL) will announce sales of $19.04 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for FuelCell Energy’s earnings, with the lowest sales estimate coming in at $17.50 million and the highest estimate coming in at $21.00 million. FuelCell Energy posted sales of $21.72 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 12.3%. The company is expected to announce its next quarterly earnings results on Wednesday, September 6th.
According to Zacks, analysts expect that FuelCell Energy will report full year sales of $19.04 million for the current financial year, with estimates ranging from $76.20 million to $80.00 million. For the next financial year, analysts expect that the company will post sales of $109.25 million per share, with estimates ranging from $98.90 million to $115.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover FuelCell Energy.
FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings data on Thursday, June 8th. The energy company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by $0.06. The company had revenue of $20.40 million for the quarter, compared to the consensus estimate of $19.30 million. FuelCell Energy had a negative net margin of 60.75% and a negative return on equity of 44.42%. The company’s revenue was down 28.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.56) earnings per share.
Several analysts have commented on the company. Roth Capital set a $2.00 price objective on FuelCell Energy and gave the company a “hold” rating in a report on Saturday, March 11th. Zacks Investment Research lowered FuelCell Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. FBR & Co reaffirmed a “market perform” rating and issued a $2.50 price target on shares of FuelCell Energy in a research note on Saturday, March 11th. Cowen and Company lowered their price target on FuelCell Energy from $2.50 to $2.00 and set an “outperform” rating on the stock in a research note on Friday, June 9th. Finally, ValuEngine lowered FuelCell Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $1.75.
FuelCell Energy (FCEL) opened at 1.26 on Wednesday. The company’s 50 day moving average price is $1.08 and its 200-day moving average price is $1.45. The company’s market capitalization is $75.06 million. FuelCell Energy has a 52 week low of $0.80 and a 52 week high of $6.44.
Institutional investors have recently made changes to their positions in the company. KBC Group NV increased its position in shares of FuelCell Energy by 36.8% in the first quarter. KBC Group NV now owns 86,310 shares of the energy company’s stock worth $119,000 after buying an additional 23,231 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of FuelCell Energy by 13.3% in the first quarter. Bank of New York Mellon Corp now owns 123,805 shares of the energy company’s stock worth $170,000 after buying an additional 14,521 shares during the last quarter. Tudor Investment Corp Et Al bought a new position in shares of FuelCell Energy during the fourth quarter worth approximately $247,000. Levin Capital Strategies L.P. increased its position in shares of FuelCell Energy by 1,717.4% in the first quarter. Levin Capital Strategies L.P. now owns 310,776 shares of the energy company’s stock worth $427,000 after buying an additional 293,676 shares during the last quarter. Finally, Parametric Portfolio Associates LLC bought a new position in shares of FuelCell Energy during the first quarter worth approximately $600,000. Hedge funds and other institutional investors own 14.51% of the company’s stock.
FuelCell Energy Company Profile
Fuelcell Energy, Inc delivers fuel cell power solutions. The Company is engaged in designing, manufacturing, installing, operating and maintaining fuel cell power solutions. The Company also provides turnkey power generation solutions to the customers, including power plant installation, operations and maintenance.
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