Ballard Power Systems Inc. (NASDAQ:BLDP) Forecasted to Post Q3 2024 Earnings of ($0.16) Per Share

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Equities research analysts at National Bank Financial cut their Q3 2024 earnings estimates for shares of Ballard Power Systems in a note issued to investors on Monday, September 16th. National Bank Financial analyst R. Merer now expects that the technology company will post earnings of ($0.16) per share for the quarter, down from their previous forecast of ($0.13). 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’ FY2024 earnings at ($0.50) EPS and FY2025 earnings at ($0.42) EPS.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $19.36 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis.

Other analysts have also recently issued reports about the company. Raymond James lowered their price target on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. Wells Fargo & Company cut their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a report on Tuesday, August 13th. Cibc World Mkts lowered shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Truist Financial dropped their price objective on Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, National Bankshares decreased their target price on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Ballard Power Systems presently has an average rating of “Hold” and a consensus price target of $3.11.

Ballard Power Systems Trading Up 1.2 %

NASDAQ:BLDP opened at $1.72 on Thursday. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 1-year low of $1.61 and a 1-year high of $4.09. The firm has a market capitalization of $514.99 million, a price-to-earnings ratio of -2.77 and a beta of 1.78. The business’s 50-day moving average price is $2.00 and its two-hundred day moving average price is $2.53.

Institutional Trading of Ballard Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. 3Chopt Investment Partners LLC bought a new position in Ballard Power Systems in the second quarter valued at $219,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Ballard Power Systems during the 2nd quarter worth about $204,000. Scientech Research LLC bought a new position in shares of Ballard Power Systems in the 2nd quarter valued at about $52,000. Decade Renewable Partners LP acquired a new stake in shares of Ballard Power Systems in the second quarter valued at about $450,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Ballard Power Systems during the second quarter worth about $91,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.