Bloom Energy Co. (NYSE:BE) Expected to Announce Earnings of -$0.18 Per Share

Equities research analysts forecast that Bloom Energy Co. (NYSE:BEGet Rating) will report earnings per share (EPS) of ($0.18) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Bloom Energy’s earnings. The lowest EPS estimate is ($0.27) and the highest is ($0.13). Bloom Energy posted earnings per share of ($0.23) during the same quarter last year, which suggests a positive year over year growth rate of 21.7%. The company is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Bloom Energy will report full-year earnings of ($0.38) per share for the current fiscal year, with EPS estimates ranging from ($0.51) to ($0.32). For the next financial year, analysts forecast that the company will report earnings of $0.19 per share, with EPS estimates ranging from $0.03 to $0.42. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Bloom Energy.

Bloom Energy (NYSE:BEGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12). The company had revenue of $201.04 million during the quarter, compared to analysts’ expectations of $220.75 million. Bloom Energy had a negative net margin of 22.25% and a negative return on equity of 738.94%. Bloom Energy’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted ($0.17) earnings per share.

A number of research analysts recently weighed in on BE shares. Zacks Investment Research cut shares of Bloom Energy from a “hold” rating to a “sell” rating in a report on Wednesday, April 13th. Raymond James dropped their price objective on shares of Bloom Energy from $34.00 to $27.00 and set a “strong-buy” rating for the company in a report on Friday, February 11th. Susquehanna lowered their price target on shares of Bloom Energy from $33.00 to $28.00 in a report on Tuesday, May 10th. Susquehanna Bancshares lowered their price target on shares of Bloom Energy from $33.00 to $28.00 in a report on Tuesday, May 10th. Finally, Truist Financial boosted their price target on shares of Bloom Energy to $19.00 in a report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy currently has an average rating of “Buy” and a consensus price target of $26.00.

In related news, EVP Glen Griffiths sold 3,057 shares of the company’s stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $25.00, for a total value of $76,425.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shawn Marie Soderberg sold 2,397 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $15.72, for a total transaction of $37,680.84. Following the completion of the sale, the executive vice president now owns 357,718 shares of the company’s stock, valued at approximately $5,623,326.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,437 shares of company stock valued at $1,939,871. Company insiders own 2.78% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Bloom Energy by 1.6% during the 1st quarter. BlackRock Inc. now owns 15,892,456 shares of the company’s stock worth $383,803,000 after buying an additional 251,745 shares during the last quarter. Morgan Stanley raised its position in Bloom Energy by 7.5% during the 3rd quarter. Morgan Stanley now owns 5,176,244 shares of the company’s stock worth $96,898,000 after buying an additional 362,680 shares during the last quarter. Clearbridge Investments LLC raised its position in Bloom Energy by 21.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,840,712 shares of the company’s stock worth $92,753,000 after buying an additional 685,213 shares during the last quarter. Norges Bank purchased a new position in Bloom Energy during the 4th quarter worth $74,217,000. Finally, State Street Corp grew its stake in shares of Bloom Energy by 2.5% during the 1st quarter. State Street Corp now owns 3,035,648 shares of the company’s stock worth $73,311,000 after purchasing an additional 72,943 shares during the period. Hedge funds and other institutional investors own 65.68% of the company’s stock.

Shares of Bloom Energy stock traded down $0.32 on Friday, reaching $18.22. The company had a trading volume of 1,733,346 shares, compared to its average volume of 3,832,620. The firm’s 50 day moving average price is $19.26 and its two-hundred day moving average price is $20.34. The firm has a market cap of $3.25 billion, a PE ratio of -14.69 and a beta of 3.39. Bloom Energy has a 52-week low of $11.47 and a 52-week high of $37.01. The company has a debt-to-equity ratio of 2,524.52, a quick ratio of 1.56 and a current ratio of 2.09.

Bloom Energy Company Profile (Get Rating)

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.

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