Cormark Analysts Lift Earnings Estimates for Ballard Power Systems Inc. (NASDAQ:BLDP)

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Investment analysts at Cormark increased their FY2024 earnings per share (EPS) estimates for Ballard Power Systems in a report released on Monday, September 16th. Cormark analyst M. Whale now anticipates that the technology company will earn ($0.49) per share for the year, up from their previous forecast of ($0.50). Cormark currently 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 ($0.13) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.10) EPS and FY2025 earnings at ($0.42) EPS.

BLDP has been the subject of a number of other reports. TD Securities downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $2.50 to $1.50 in a research note on Monday, August 12th. National Bankshares decreased their price target on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 13th. Truist Financial lowered their price target on Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Lake Street Capital cut their price objective on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Susquehanna decreased their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.11.

Ballard Power Systems Stock Performance

Shares of BLDP opened at $1.67 on Thursday. The stock has a market capitalization of $499.98 million, a price-to-earnings ratio of -2.69 and a beta of 1.78. Ballard Power Systems has a 12 month low of $1.61 and a 12 month high of $4.02. The firm has a fifty day simple moving average of $1.96 and a 200 day simple moving average of $2.51. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $19.36 million. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the business earned ($0.10) EPS.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds have recently bought and sold shares of the stock. Endowment Wealth Management Inc. acquired a new stake in shares of Ballard Power Systems during the first quarter worth $28,000. Tidal Investments LLC acquired a new stake in Ballard Power Systems in the 1st quarter worth about $39,000. Scientech Research LLC bought a new stake in Ballard Power Systems in the 2nd quarter valued at about $52,000. Daiwa Securities Group Inc. grew its position 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 purchasing an additional 14,415 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in shares of Ballard Power Systems during the first quarter worth approximately $59,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.