Wall Street brokerages expect that Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) will report sales of $28.13 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided 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 reported sales of $20.64 million in the same quarter last year, which indicates a positive year over year growth rate of 36.3%. The firm is expected to announce its next quarterly earnings results on Tuesday, October 24th.

On average, analysts expect that Ballard Power Systems will report full year sales of $28.13 million for the current year, with estimates ranging from $104.00 million to $109.60 million. For the next fiscal year, analysts anticipate that the firm will post sales of $129.53 million per share, with estimates ranging from $125.50 million to $134.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Ballard Power Systems.

A number of equities research analysts have recently issued reports on the stock. Cowen and Company upped their target price on shares of Ballard Power Systems from $3.00 to $4.50 and gave the stock a “market perform” rating in a report on Friday, September 15th. Zacks Investment Research lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Monday, July 17th. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective (up previously from $3.00) on shares of Ballard Power Systems in a report on Friday, September 15th. BidaskClub lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, FBR & Co reissued a “buy” rating and issued a $6.00 price objective (up previously from $3.50) on shares of Ballard Power Systems in a report on Monday. One research 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 presently has an average rating of “Hold” and a consensus target price of $4.55.

Several institutional investors and hedge funds have recently made changes to their positions in BLDP. Bluestein R H & Co. grew its holdings 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 valued at $500,000 after purchasing an additional 25,000 shares during the period. Renaissance Technologies LLC grew its holdings 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 valued at $368,000 after purchasing an additional 137,200 shares during the period. KCG Holdings Inc. grew its holdings 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 valued at $454,000 after purchasing an additional 140,603 shares during the period. First Trust Advisors LP grew its holdings 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 valued at $528,000 after purchasing an additional 26,314 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ballard Power Systems in the second quarter valued at about $105,000. 2.81% of the stock is owned by hedge funds and other institutional investors.

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About Ballard Power Systems

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

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