Equities Analysts Set Expectations for BLDP FY2024 Earnings

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Equities research analysts at National Bank Financial upped their FY2024 EPS estimates for shares of Ballard Power Systems in a note issued to investors on Tuesday, November 5th. National Bank Financial analyst R. Merer now forecasts that the technology company will earn ($0.49) per share for the year, up from their previous estimate of ($0.50). The consensus estimate for Ballard Power Systems’ current full-year earnings is ($0.48) per share. National Bank Financial also issued estimates for Ballard Power Systems’ FY2025 earnings at ($0.37) EPS.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative return on equity of 19.96% and a negative net margin of 357.78%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) earnings per share.

Several other equities research analysts have also commented on the stock. TD Securities lowered shares of Ballard Power Systems from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $2.50 to $1.50 in a research note on Monday, August 12th. Citigroup dropped their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Truist Financial reduced their price objective on Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Jefferies Financial Group dropped their target price on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Finally, StockNews.com upgraded Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. Six analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.78.

Ballard Power Systems Stock Performance

Shares of BLDP stock opened at $1.35 on Friday. The company’s fifty day moving average price is $1.67 and its 200-day moving average price is $2.20. The stock has a market cap of $404.22 million, a PE ratio of -1.23 and a beta of 1.78. The company has a current ratio of 9.01, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12 month low of $1.27 and a 12 month high of $4.02.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise raised its holdings in shares of Ballard Power Systems by 7.7% during the third quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock valued at $343,000 after purchasing an additional 13,639 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Ballard Power Systems by 12.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,019 shares of the technology company’s stock worth $535,000 after purchasing an additional 32,909 shares during the period. 3Chopt Investment Partners LLC purchased a new stake in Ballard Power Systems during the 2nd quarter valued at $219,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Ballard Power Systems during the 2nd quarter valued at $204,000. Finally, Scientech Research LLC purchased a new position in shares of Ballard Power Systems in the 2nd quarter worth $52,000. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.