Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) – Analysts at KeyCorp issued their Q2 2022 EPS estimates for Ballard Power Systems in a report released on Wednesday, June 1st. KeyCorp analyst S. Karp expects that the technology company will post earnings of ($0.13) per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for Ballard Power Systems’ Q3 2022 earnings at ($0.14) EPS, Q4 2022 earnings at ($0.14) EPS, FY2022 earnings at ($0.54) EPS, Q1 2023 earnings at ($0.13) EPS, Q2 2023 earnings at ($0.13) EPS, Q3 2023 earnings at ($0.13) EPS, Q4 2023 earnings at ($0.13) EPS and FY2023 earnings at ($0.53) EPS.
Several other analysts have also weighed in on the company. National Bankshares decreased their price target on Ballard Power Systems from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. BMO Capital Markets downgraded Ballard Power Systems from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $23.00 to $10.00 in a research note on Monday, February 7th. Susquehanna lifted their price target on Ballard Power Systems from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, March 10th. Susquehanna Bancshares upped their price objective on Ballard Power Systems from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, March 10th. Finally, TD Securities cut their target price on shares of Ballard Power Systems from $20.00 to $17.00 and set a “speculative buy” rating for the company in a report on Tuesday, March 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.36.
Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last issued its earnings results on Monday, May 9th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The firm had revenue of $21.00 million during the quarter, compared to the consensus estimate of $24.88 million. Ballard Power Systems had a negative return on equity of 10.21% and a negative net margin of 126.91%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) EPS.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Ballard Power Systems by 1.6% in the first quarter. Vanguard Group Inc. now owns 8,147,247 shares of the technology company’s stock valued at $94,833,000 after acquiring an additional 126,638 shares in the last quarter. BlackRock Inc. increased its position in shares of Ballard Power Systems by 34.1% in the fourth quarter. BlackRock Inc. now owns 7,753,916 shares of the technology company’s stock valued at $97,389,000 after buying an additional 1,969,666 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Ballard Power Systems by 38.4% during the 1st quarter. Allianz Asset Management GmbH now owns 3,249,662 shares of the technology company’s stock worth $37,855,000 after buying an additional 902,351 shares during the last quarter. Morgan Stanley boosted its position in shares of Ballard Power Systems by 16.9% in the 3rd quarter. Morgan Stanley now owns 2,687,637 shares of the technology company’s stock worth $37,763,000 after buying an additional 389,134 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Ballard Power Systems by 10.6% in the 4th quarter. First Trust Advisors LP now owns 2,544,254 shares of the technology company’s stock valued at $31,956,000 after acquiring an additional 243,197 shares during the last quarter. 35.47% of the stock is currently owned by institutional investors.
About Ballard Power Systems (Get Rating)
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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.
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