Research Analysts Issue Forecasts for Ballard Power Systems Inc.’s Q2 2024 Earnings (NASDAQ:BLDP)

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Stock analysts at National Bank Financial reduced their Q2 2024 earnings per share (EPS) estimates for Ballard Power Systems in a report issued on Tuesday, May 7th. National Bank Financial analyst R. Merer now anticipates that the technology company will post earnings of ($0.14) per share for the quarter, down from their prior forecast of ($0.13). The consensus estimate for Ballard Power Systems’ current full-year earnings is ($0.51) per share. National Bank Financial also issued estimates for Ballard Power Systems’ Q3 2024 earnings at ($0.14) EPS, Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at ($0.52) EPS and FY2025 earnings at ($0.54) EPS.

Several other equities research analysts have also weighed in on BLDP. Truist Financial reiterated a “hold” rating and issued a $3.00 price objective (down from $3.50) on shares of Ballard Power Systems in a research note on Wednesday. Raymond James lowered their price objective on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 13th. TD Securities upped their price objective on Ballard Power Systems from $2.50 to $2.75 and gave the company a “hold” rating in a research note on Wednesday. National Bankshares lowered their price objective on Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group lowered their price objective on Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.74.

Ballard Power Systems Trading Up 6.6 %

Shares of BLDP opened at $3.07 on Friday. Ballard Power Systems has a 12-month low of $2.42 and a 12-month high of $5.68. The firm has a market capitalization of $918.82 million, a price-to-earnings ratio of -5.20 and a beta of 1.65. The stock’s 50-day moving average price is $2.89 and its 200 day moving average price is $3.24. The company has a quick ratio of 11.60, a current ratio of 12.25 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The company had revenue of $14.50 million during the quarter, compared to analyst estimates of $17.55 million. During the same period in the prior year, the firm earned ($0.11) EPS. Ballard Power Systems’s quarterly revenue was up 9.8% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Ballard Power Systems by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock valued at $33,476,000 after purchasing an additional 148,321 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ballard Power Systems by 27.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company’s stock valued at $14,353,000 after purchasing an additional 849,311 shares during the period. Van ECK Associates Corp lifted its stake in shares of Ballard Power Systems by 19.8% in the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after purchasing an additional 353,098 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Ballard Power Systems by 18.2% in the 4th quarter. Vontobel Holding Ltd. now owns 2,086,570 shares of the technology company’s stock valued at $7,732,000 after purchasing an additional 321,624 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ballard Power Systems by 11.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock valued at $3,222,000 after purchasing an additional 89,643 shares during the period. Institutional investors and hedge funds 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.