Zacks: Brokerages Anticipate Ballard Power Systems Inc (NASDAQ:BLDP) Will Announce Quarterly Sales of $22.10 Million

Wall Street analysts expect Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) to report sales of $22.10 million for the current quarter, according to Zacks. Two analysts have issued estimates for Ballard Power Systems’ earnings, with estimates ranging from $22.00 million to $22.20 million. Ballard Power Systems posted sales of $26.45 million during the same quarter last year, which suggests a negative year over year growth rate of 16.4%. The company is expected to announce its next earnings report after the market closes on Wednesday, July 31st.

On average, analysts expect that Ballard Power Systems will report full year sales of $95.50 million for the current fiscal year, with estimates ranging from $93.90 million to $97.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $136.20 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Ballard Power Systems.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $20.63 million. Ballard Power Systems had a negative return on equity of 14.37% and a negative net margin of 36.58%. The company’s revenue was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS.

A number of research firms have issued reports on BLDP. Roth Capital reiterated a “sell” rating on shares of Ballard Power Systems in a report on Monday, July 1st. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. BidaskClub cut Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Finally, TheStreet cut AMERCO from a “b” rating to a “c+” rating in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $3.70.

BLDP stock traded down $0.07 during trading hours on Monday, reaching $3.99. 74,942 shares of the stock were exchanged, compared to its average volume of 821,205. The firm’s 50-day simple moving average is $3.93. The company has a market cap of $935.05 million, a P/E ratio of -30.69 and a beta of 1.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.67 and a current ratio of 5.35. Ballard Power Systems has a 12 month low of $2.25 and a 12 month high of $4.62.

Several hedge funds and other institutional investors have recently made changes to their positions in BLDP. First Trust Advisors LP grew its holdings in shares of Ballard Power Systems by 31.4% in the 4th quarter. First Trust Advisors LP now owns 217,448 shares of the technology company’s stock valued at $520,000 after acquiring an additional 51,926 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Ballard Power Systems by 57.4% in the 1st quarter. Alps Advisors Inc. now owns 126,222 shares of the technology company’s stock valued at $380,000 after acquiring an additional 46,046 shares in the last quarter. Millennium Management LLC bought a new position in shares of Ballard Power Systems in the 4th quarter valued at about $81,000. Two Sigma Securities LLC bought a new position in shares of Ballard Power Systems in the 4th quarter valued at about $54,000. Finally, Toronto Dominion Bank grew its holdings in shares of Ballard Power Systems by 87.6% in the 1st quarter. Toronto Dominion Bank now owns 32,737 shares of the technology company’s stock valued at $99,000 after acquiring an additional 15,286 shares in the last quarter. Institutional investors own 2.58% of the company’s stock.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

Featured Story: What is the Dividend Aristocrat Index?

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

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