Zacks: Analysts Anticipate Beam Global (NASDAQ:BEEM) to Announce -$0.22 Earnings Per Share

Equities research analysts expect that Beam Global (NASDAQ:BEEM) will report earnings of ($0.22) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Beam Global’s earnings. Beam Global posted earnings of ($0.17) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 29.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 11th.

On average, analysts expect that Beam Global will report full year earnings of ($0.78) per share for the current financial year, with EPS estimates ranging from ($0.79) to ($0.77). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.60) per share. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Beam Global.

Beam Global (NASDAQ:BEEM) last announced its earnings results on Wednesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.05). Beam Global had a negative net margin of 91.34% and a negative return on equity of 24.37%. The business had revenue of $2.12 million for the quarter, compared to analysts’ expectations of $1.75 million.

Several equities research analysts recently weighed in on BEEM shares. BTIG Research decreased their price objective on Beam Global from $50.00 to $42.00 and set a “buy” rating for the company in a report on Friday, August 13th. Zacks Investment Research lowered Beam Global from a “hold” rating to a “sell” rating in a report on Wednesday, August 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $39.80.

Shares of Beam Global stock traded up $0.18 during trading hours on Friday, hitting $30.88. 10,870 shares of the company’s stock traded hands, compared to its average volume of 387,668. Beam Global has a 12-month low of $14.15 and a 12-month high of $75.90. The stock has a market capitalization of $206.53 million and a price-to-earnings ratio of -37.28. The company has a fifty day simple moving average of $28.62 and a 200-day simple moving average of $31.28.

Several institutional investors and hedge funds have recently modified their holdings of BEEM. Ameritas Investment Partners Inc. bought a new stake in shares of Beam Global during the 2nd quarter valued at about $26,000. Legal & General Group Plc bought a new stake in shares of Beam Global during the 2nd quarter valued at about $34,000. Credit Agricole S A boosted its position in shares of Beam Global by 14.0% during the 2nd quarter. Credit Agricole S A now owns 2,965 shares of the company’s stock valued at $114,000 after acquiring an additional 365 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Beam Global during the 2nd quarter valued at about $129,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Beam Global during the 1st quarter valued at about $217,000. Hedge funds and other institutional investors own 61.66% of the company’s stock.

About Beam Global

Beam Global engages in the invention, design, engineering, manufacture, and sale of solar powered products. It offers solar powered products and proprietary technology solutions for electric vehicle charging infrastructure, out of home advertising platforms, and energy security and disaster preparedness.

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