$233.47 Million in Sales Expected for Bloom Energy Corp (NYSE:BE) This Quarter

Analysts predict that Bloom Energy Corp (NYSE:BE) will report sales of $233.47 million for the current quarter, according to Zacks. Four analysts have made estimates for Bloom Energy’s earnings, with the highest sales estimate coming in at $240.22 million and the lowest estimate coming in at $230.30 million. Bloom Energy reported sales of $190.19 million in the same quarter last year, which indicates a positive year-over-year growth rate of 22.8%. The company is scheduled to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Bloom Energy will report full year sales of $919.83 million for the current fiscal year, with estimates ranging from $884.44 million to $968.02 million. For the next financial year, analysts anticipate that the company will post sales of $969.33 million, with estimates ranging from $847.18 million to $1.17 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Bloom Energy.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.59). The company had revenue of $233.80 million for the quarter, compared to analyst estimates of $207.56 million. Bloom Energy had a negative return on equity of 387.28% and a negative net margin of 38.77%. The business’s revenue was up 38.4% on a year-over-year basis.

BE has been the topic of several research reports. Zacks Investment Research lowered Bloom Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Bank of America lowered Bloom Energy from a “neutral” rating to an “underperform” rating in a report on Tuesday. Robert W. Baird dropped their price objective on Bloom Energy from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday. Raymond James dropped their price objective on Bloom Energy from $16.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, KeyCorp reaffirmed an “overweight” rating and set a $15.00 price objective (down previously from $27.00) on shares of Bloom Energy in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $16.45.

In other news, COO Susan Seilheimer Brennan sold 11,471 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $10.72, for a total transaction of $122,969.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Randy W. Furr sold 46,675 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $11.16, for a total transaction of $520,893.00. The disclosure for this sale can be found here. 36.45% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in BE. BlackRock Inc. grew its stake in shares of Bloom Energy by 29.3% in the fourth quarter. BlackRock Inc. now owns 432,121 shares of the company’s stock worth $4,313,000 after acquiring an additional 97,927 shares during the last quarter. Raymond James & Associates grew its stake in shares of Bloom Energy by 83.1% in the fourth quarter. Raymond James & Associates now owns 31,305 shares of the company’s stock worth $312,000 after acquiring an additional 14,212 shares during the last quarter. Barclays PLC grew its stake in shares of Bloom Energy by 4,865.0% in the fourth quarter. Barclays PLC now owns 4,965 shares of the company’s stock worth $50,000 after acquiring an additional 4,865 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Bloom Energy by 167.6% in the fourth quarter. Bank of America Corp DE now owns 118,035 shares of the company’s stock worth $1,179,000 after acquiring an additional 73,928 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Bloom Energy by 108.7% in the fourth quarter. Millennium Management LLC now owns 29,049 shares of the company’s stock worth $290,000 after acquiring an additional 15,127 shares during the last quarter. Institutional investors and hedge funds own 33.58% of the company’s stock.

Shares of BE stock traded up $0.04 during mid-day trading on Thursday, hitting $4.95. 3,803,074 shares of the stock were exchanged, compared to its average volume of 1,407,582. The stock’s fifty day simple moving average is $10.80 and its two-hundred day simple moving average is $11.93. The stock has a market capitalization of $908.51 million and a price-to-earnings ratio of -2.04. Bloom Energy has a 12-month low of $4.41 and a 12-month high of $38.00. The company has a debt-to-equity ratio of 10.34, a quick ratio of 1.89 and a current ratio of 2.32.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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