What is Cormark’s Estimate for BLDP FY2024 Earnings?

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Investment analysts at Cormark raised their FY2024 EPS estimates for Ballard Power Systems in a research note issued on Wednesday, November 6th. Cormark analyst M. Whale now forecasts that the technology company will earn ($0.39) per share for the year, up from their previous forecast of ($0.49). Cormark has a “Market Perform” rating on the stock. The consensus estimate for Ballard Power Systems’ current full-year earnings is ($0.48) per share. Cormark also issued estimates for Ballard Power Systems’ Q4 2024 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.41) EPS.

Other research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. Wells Fargo & Company decreased their target price on 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 cut Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. National Bankshares reduced their price target on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group lowered their price objective on shares of Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.87.

Ballard Power Systems Trading Down 0.7 %

Shares of BLDP stock opened at $1.34 on Friday. The company has a market capitalization of $401.22 million, a P/E ratio of -1.22 and a beta of 1.78. Ballard Power Systems has a 12-month low of $1.32 and a 12-month high of $4.02. The company has a quick ratio of 10.05, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $1.68 and a 200 day moving average price of $2.21.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 19.96% and a negative net margin of 357.78%. The company had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $19.36 million. During the same period last year, the business earned ($0.10) earnings per share. The business’s revenue was up 4.6% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Endowment Wealth Management Inc. acquired a new position in shares of Ballard Power Systems during the first quarter worth about $28,000. Tidal Investments LLC acquired a new stake in Ballard Power Systems in the 1st quarter valued at approximately $39,000. Westwood Holdings Group Inc. bought a new stake in Ballard Power Systems in the 1st quarter valued at approximately $59,000. Scientech Research LLC acquired a new position in Ballard Power Systems during the 2nd quarter worth approximately $52,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after acquiring an additional 14,415 shares in the last quarter. Institutional investors 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.