Wall Street analysts expect Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) to report earnings of ($0.08) per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Ballard Power Systems’ earnings, with estimates ranging from ($0.09) to ($0.06). Ballard Power Systems reported earnings per share of ($0.05) in the same quarter last year, which suggests a negative year over year growth rate of 60%. The company is expected to announce its next quarterly earnings results after the market closes on Friday, March 11th.
According to Zacks, analysts expect that Ballard Power Systems will report full year earnings of ($0.31) per share for the current fiscal year, with EPS estimates ranging from ($0.39) to ($0.22). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.27) per share, with EPS estimates ranging from ($0.34) to ($0.18). Zacks’ EPS averages are an average based on a survey of research analysts that cover Ballard Power Systems.
BLDP has been the subject of a number of recent analyst reports. Sumitomo Mitsui Financial Group started coverage on Ballard Power Systems in a report on Thursday, November 4th. They set a “neutral” rating and a $20.00 price target for the company. Raymond James set a $25.00 price target on Ballard Power Systems and gave the stock an “outperform” rating in a research report on Tuesday, November 23rd. KeyCorp assumed coverage on Ballard Power Systems in a report on Wednesday, January 5th. They set a “sector weight” rating on the stock. B. Riley lowered their target price on Ballard Power Systems from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, November 10th. Finally, Truist Financial lowered their price target on Ballard Power Systems from $18.00 to $13.00 and set a “hold” rating on the stock in a research report on Monday, January 24th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.35.
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NASDAQ BLDP traded down $0.34 on Friday, reaching $9.62. The company’s stock had a trading volume of 2,715,251 shares, compared to its average volume of 4,892,766. Ballard Power Systems has a 52 week low of $8.57 and a 52 week high of $33.43. The company has a current ratio of 20.92, a quick ratio of 20.12 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $11.03 and a 200 day moving average price of $14.08. The firm has a market cap of $2.86 billion, a PE ratio of -34.36 and a beta of 1.58.
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Ballard Power Systems by 5.2% during the second quarter. Vanguard Group Inc. now owns 7,496,749 shares of the technology company’s stock valued at $135,841,000 after buying an additional 368,213 shares during the last quarter. BlackRock Inc. increased its holdings in Ballard Power Systems by 918.3% during the third quarter. BlackRock Inc. now owns 5,784,250 shares of the technology company’s stock valued at $81,268,000 after buying an additional 5,216,236 shares during the last quarter. Marshall Wace LLP increased its holdings in Ballard Power Systems by 4.3% during the second quarter. Marshall Wace LLP now owns 3,190,163 shares of the technology company’s stock valued at $57,807,000 after buying an additional 130,511 shares during the last quarter. Morgan Stanley increased its holdings in Ballard Power Systems by 16.9% during the third quarter. Morgan Stanley now owns 2,687,637 shares of the technology company’s stock valued at $37,763,000 after buying an additional 389,134 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Ballard Power Systems by 10.6% in the fourth quarter. First Trust Advisors LP now owns 2,544,254 shares of the technology company’s stock worth $31,956,000 after purchasing an additional 243,197 shares in the last quarter. Institutional investors own 34.70% of the company’s stock.
About Ballard Power Systems
Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.
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