Zacks: Analysts Anticipate Beam Global (NASDAQ:BEEM) Will Announce Earnings of -$0.21 Per Share

Wall Street brokerages expect Beam Global (NASDAQ:BEEM) to post earnings of ($0.21) per share for the current quarter, Zacks reports. Three analysts have issued estimates for Beam Global’s earnings. The highest EPS estimate is ($0.20) and the lowest is ($0.21). Beam Global reported earnings per share of ($0.34) in the same quarter last year, which indicates a positive year over year growth rate of 38.2%. The business is scheduled to announce its next earnings results on Tuesday, March 29th.

On average, analysts expect that Beam Global will report full-year earnings of ($0.72) per share for the current fiscal year. For the next financial year, analysts forecast that the company will post earnings of ($0.60) per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Beam Global.

Beam Global (NASDAQ:BEEM) last posted its quarterly earnings results on Thursday, November 11th. The company reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.03. Beam Global had a negative net margin of 89.69% and a negative return on equity of 23.76%. The firm had revenue of $2.02 million for the quarter, compared to the consensus estimate of $3.31 million. During the same period last year, the firm posted ($0.17) earnings per share.

Several research analysts have commented on BEEM shares. BTIG Research reiterated a “buy” rating and set a $42.00 price target on shares of Beam Global in a report on Sunday, November 14th. Zacks Investment Research cut shares of Beam Global from a “buy” rating to a “hold” rating in a research note on Tuesday, January 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Beam Global presently has an average rating of “Hold” and a consensus price target of $37.20.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new stake in shares of Beam Global during the second quarter valued at about $26,000. Legal & General Group Plc bought a new stake in Beam Global in the second quarter worth about $34,000. Citigroup Inc. raised its position in Beam Global by 147.4% in the third quarter. Citigroup Inc. now owns 1,034 shares of the company’s stock worth $28,000 after acquiring an additional 616 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Beam Global in the 3rd quarter worth about $51,000. Finally, Metropolitan Life Insurance Co NY purchased a new position in Beam Global in the 3rd quarter worth about $66,000. Institutional investors and hedge funds own 46.75% of the company’s stock.

Beam Global stock opened at $14.35 on Friday. The company’s 50 day simple moving average is $23.82 and its 200-day simple moving average is $27.83. The company has a market capitalization of $128.43 million, a price-to-earnings ratio of -16.88 and a beta of -0.10. Beam Global has a 1 year low of $13.95 and a 1 year high of $71.29.

About Beam Global

Beam Global engages in the invention, design, engineering, manufacture, and sale of solar powered products. It offers solar powered products and proprietary technology solutions for electric vehicle charging infrastructure, out of home advertising platforms, and energy security and disaster preparedness.

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