Zacks: Analysts Anticipate Ballard Power Systems, Inc. (BLDP) Will Post Quarterly Sales of $28.13 Million
Equities analysts expect Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) to post $28.13 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Ballard Power Systems’ earnings. The highest sales estimate is $29.10 million and the lowest is $26.90 million. Ballard Power Systems reported sales of $20.64 million during the same quarter last year, which would suggest a positive year over year growth rate of 36.3%. The business is expected to report its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Ballard Power Systems will report full year sales of $28.13 million for the current fiscal year, with estimates ranging from $104.00 million to $109.60 million. For the next fiscal year, analysts anticipate that the company will post sales of $132.57 million per share, with estimates ranging from $125.50 million to $143.70 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Ballard Power Systems.
A number of brokerages have recently commented on BLDP. Zacks Investment Research lowered shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. FBR & Co lifted their price target on shares of Ballard Power Systems from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Wednesday, May 3rd. Roth Capital set a $3.00 price target on shares of Ballard Power Systems and gave the stock a “hold” rating in a report on Monday, July 31st. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Ballard Power Systems in a report on Friday, August 4th. Finally, BidaskClub upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $3.25.
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A number of institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised 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 valued at $528,000 after buying an additional 26,314 shares during the last quarter. KCG Holdings Inc. raised its position in Ballard Power Systems by 220.0% in the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after buying an additional 140,603 shares during the last quarter. Renaissance Technologies LLC raised 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 valued at $368,000 after buying an additional 137,200 shares during the last quarter. Finally, Bluestein R H & Co. raised its position in Ballard Power Systems by 12.5% in the first quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock valued at $500,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 2.59% of the company’s stock.
Ballard Power Systems (BLDP) traded up 0.5893% on Tuesday, hitting $2.8165. The stock had a trading volume of 272,056 shares. Ballard Power Systems has a 1-year low of $1.61 and a 1-year high of $3.48. The company’s 50 day moving average is $2.89 and its 200-day moving average is $2.58. The firm’s market capitalization is $496.67 million.
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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