Brokers Issue Forecasts for Ballard Power Systems Inc.’s Q2 2022 Earnings (NASDAQ:BLDP)

Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) – Analysts at National Bank Financial lowered their Q2 2022 earnings estimates for Ballard Power Systems in a research report issued to clients and investors on Monday, May 9th. National Bank Financial analyst R. Merer now expects that the technology company will earn ($0.14) per share for the quarter, down from their previous forecast of ($0.12). National Bank Financial has a “Outperform Spec Overweight” rating on the stock. National Bank Financial also issued estimates for Ballard Power Systems’ Q4 2022 earnings at ($0.13) EPS, FY2022 earnings at ($0.53) EPS and FY2023 earnings at ($0.38) EPS.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last posted its quarterly earnings data 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). Ballard Power Systems had a negative return on equity of 10.21% and a negative net margin of 126.91%. The firm had revenue of $21.00 million for the quarter, compared to analyst estimates of $24.88 million. During the same period in the prior year, the company posted ($0.06) EPS. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year.

A number of other research analysts also recently weighed in on the company. Raymond James cut their price target on Ballard Power Systems from $14.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday. National Bankshares cut their price target on Ballard Power Systems from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday. TD Securities cut their price target on Ballard Power Systems from $20.00 to $17.00 and set a “speculative buy” rating on the stock in a research note on Tuesday, March 15th. Susquehanna increased their price target on Ballard Power Systems from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, March 10th. Finally, Citigroup cut their price target on Ballard Power Systems from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 16th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.36.

NASDAQ:BLDP opened at $6.87 on Thursday. The stock’s fifty day moving average price is $10.12 and its two-hundred day moving average price is $11.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.16 and a current ratio of 15.36. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -14.93 and a beta of 1.69. Ballard Power Systems has a 52-week low of $5.80 and a 52-week high of $19.66.

A number of hedge funds have recently added to or reduced their stakes in BLDP. Salem Investment Counselors Inc. boosted its stake in shares of Ballard Power Systems by 10,023.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 3,037 shares of the technology company’s stock worth $38,000 after buying an additional 3,007 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Ballard Power Systems by 81.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,791 shares of the technology company’s stock worth $48,000 after buying an additional 1,700 shares during the last quarter. Millburn Ridgefield Corp boosted its stake in shares of Ballard Power Systems by 238.0% during the 1st quarter. Millburn Ridgefield Corp now owns 4,425 shares of the technology company’s stock worth $52,000 after buying an additional 3,116 shares during the last quarter. Catalyst Capital Advisors LLC boosted its stake in shares of Ballard Power Systems by 238.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 4,425 shares of the technology company’s stock worth $52,000 after buying an additional 3,116 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. acquired a new position in shares of Ballard Power Systems during the 4th quarter worth about $58,000. Hedge funds and other institutional investors own 35.47% of the company’s stock.

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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Earnings History and Estimates for Ballard Power Systems (NASDAQ:BLDP)

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