Zacks: Brokerages Anticipate Bloom Energy Corp (NYSE:BE) Will Announce Quarterly Sales of $268.32 Million

Equities analysts expect that Bloom Energy Corp (NYSE:BE) will announce $268.32 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Bloom Energy’s earnings, with the highest sales estimate coming in at $294.48 million and the lowest estimate coming in at $255.28 million. Bloom Energy reported sales of $213.61 million during the same quarter last year, which indicates a positive year over year growth rate of 25.6%. The firm is expected to report its next quarterly earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Bloom Energy will report full-year sales of $937.73 million for the current fiscal year, with estimates ranging from $923.24 million to $968.02 million. For the next fiscal year, analysts expect that the firm will report sales of $939.21 million, with estimates ranging from $797.28 million to $1.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Bloom Energy.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, November 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.07. Bloom Energy had a negative net margin of 31.91% and a negative return on equity of 867.76%. The company had revenue of $233.47 million for the quarter, compared to the consensus estimate of $230.79 million.

A number of research analysts recently issued reports on BE shares. KeyCorp reiterated an “overweight” rating and set a $5.00 target price on shares of Bloom Energy in a research report on Monday, October 14th. Raymond James dropped their target price on shares of Bloom Energy from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 1st. Finally, Zacks Investment Research downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $8.01.

In other Bloom Energy news, EVP Hari Pillai sold 37,500 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $6.81, for a total transaction of $255,375.00. Following the transaction, the executive vice president now owns 37,500 shares in the company, valued at $255,375. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kr Sridhar sold 473,175 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $6.55, for a total transaction of $3,099,296.25. Following the transaction, the chief executive officer now owns 9,394 shares in the company, valued at approximately $61,530.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 610,719 shares of company stock worth $3,882,904. Corporate insiders own 36.45% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BE. FMR LLC acquired a new position in Bloom Energy during the first quarter worth $11,026,000. First Trust Advisors LP acquired a new position in Bloom Energy during the first quarter worth $262,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Bloom Energy in the 1st quarter worth $10,129,000. Wells Fargo & Company MN grew its stake in shares of Bloom Energy by 11.5% in the 2nd quarter. Wells Fargo & Company MN now owns 490,668 shares of the company’s stock worth $6,021,000 after acquiring an additional 50,540 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Bloom Energy in the 2nd quarter worth $1,483,000. Hedge funds and other institutional investors own 39.51% of the company’s stock.

Shares of Bloom Energy stock traded up $0.43 during trading on Tuesday, reaching $9.71. 3,914,672 shares of the company traded hands, compared to its average volume of 2,710,349. Bloom Energy has a 1-year low of $2.44 and a 1-year high of $16.63. The company has a 50 day moving average price of $7.11 and a 200-day moving average price of $6.46. The firm has a market capitalization of $1.10 billion, a PE ratio of -3.85 and a beta of 4.14.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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Earnings History and Estimates for Bloom Energy (NYSE:BE)

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