FY2024 EPS Estimates for Ballard Power Systems Inc. (NASDAQ:BLDP) Lifted by Analyst

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Equities researchers at Roth Capital raised their FY2024 earnings per share (EPS) estimates for shares of Ballard Power Systems in a research report issued on Wednesday, May 8th. Roth Capital analyst C. Irwin now expects that the technology company will post earnings of ($0.58) per share for the year, up from their prior forecast of ($0.60). The consensus estimate for Ballard Power Systems’ current full-year earnings is ($0.51) per share. Roth Capital also issued estimates for Ballard Power Systems’ FY2025 earnings at ($0.50) EPS.

Several other analysts also recently weighed in on BLDP. National Bankshares lowered their price objective on Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating for the company in a research report on Wednesday. Wells Fargo & Company decreased their target price on Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating for the company in a report on Thursday. Raymond James decreased their target price on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Wednesday, March 13th. Citigroup decreased their target price on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Finally, Jefferies Financial Group decreased their target price on Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Ballard Power Systems currently has a consensus rating of “Hold” and an average target price of $3.74.

Ballard Power Systems Stock Performance

Shares of BLDP stock opened at $3.07 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25. Ballard Power Systems has a fifty-two week low of $2.42 and a fifty-two week high of $5.68. The stock has a 50 day moving average price of $2.89 and a two-hundred day moving average price of $3.24. The company has a market capitalization of $918.82 million, a P/E ratio of -5.20 and a beta of 1.65.

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

Institutional Investors Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLDP. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ballard Power Systems by 11.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock worth $3,222,000 after acquiring an additional 89,643 shares during the last quarter. Swiss National Bank grew its stake in shares of Ballard Power Systems by 1.9% in the third quarter. Swiss National Bank now owns 529,800 shares of the technology company’s stock worth $1,967,000 after acquiring an additional 10,100 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Ballard Power Systems by 1.7% in the third quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock worth $33,476,000 after acquiring an additional 148,321 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Ballard Power Systems by 0.9% in the third quarter. Public Sector Pension Investment Board now owns 542,101 shares of the technology company’s stock worth $2,005,000 after acquiring an additional 4,677 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Ballard Power Systems by 116.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 35,861 shares of the technology company’s stock worth $133,000 after acquiring an additional 19,284 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

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.