Equities analysts expect Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) to announce sales of $28.13 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 $26.90 million and the highest estimate coming in at $29.10 million. Ballard Power Systems posted sales of $20.64 million in the same quarter last year, which suggests a positive year over year growth rate of 36.3%. The business is expected to announce its next quarterly earnings report on Tuesday, October 24th.

On average, analysts expect that Ballard Power Systems will report full year sales of $28.13 million for the current financial year, with estimates ranging from $104.00 million to $109.60 million. For the next financial year, analysts anticipate that the firm will report sales of $132.57 million per share, with estimates ranging from $125.50 million to $143.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Ballard Power Systems.

Several analysts recently issued reports on BLDP shares. BidaskClub upgraded Ballard Power Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 14th. Zacks Investment Research upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research note on Tuesday, July 4th. FBR & Co set a $4.00 price target on Ballard Power Systems and gave the company a “buy” rating in a research note on Thursday, June 22nd. HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of Ballard Power Systems in a research report on Friday, August 4th. Finally, Roth Capital set a $3.00 target price on Ballard Power Systems and gave the company a “hold” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $3.25.

Ballard Power Systems (NASDAQ BLDP) opened at 3.17 on Friday. Ballard Power Systems has a 52 week low of $1.61 and a 52 week high of $3.48. The company has a 50 day moving average price of $2.88 and a 200-day moving average price of $2.66. The firm’s market capitalization is $559.01 million.

Several institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in Ballard Power Systems during the second quarter worth approximately $105,000. First Trust Advisors LP boosted its position in shares of 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 worth $528,000 after buying an additional 26,314 shares during the last quarter. KCG Holdings Inc. boosted its position in shares of Ballard Power Systems by 220.0% in the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock worth $454,000 after buying an additional 140,603 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Ballard Power Systems by 483.1% in the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after buying an additional 137,200 shares during the last quarter. Finally, Bluestein R H & Co. boosted its position in shares of 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 worth $500,000 after buying an additional 25,000 shares during the last quarter. 2.82% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This news story was posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/09/02/28-13-million-in-sales-expected-for-ballard-power-systems-inc-bldp-this-quarter.html.

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.

Get a free copy of the Zacks research report on Ballard Power Systems (BLDP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ballard Power Systems (NASDAQ:BLDP)

Receive News & Ratings for Ballard Power Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ballard Power Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.