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

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Analysts at Roth Capital lifted their FY2024 earnings per share estimates for Ballard Power Systems in a report released on Wednesday, May 8th. Roth Capital analyst C. Irwin now anticipates that the technology company will post earnings per share of ($0.58) for the year, up from their prior estimate 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.

A number of other research analysts have also recently commented on BLDP. CIBC decreased their price target on Ballard Power Systems from $3.75 to $3.50 and set a “neutral” rating on the stock 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 on the stock in a research report on Thursday. Truist Financial reiterated a “hold” rating and issued a $3.00 target price (down previously from $3.50) on shares of Ballard Power Systems in a research report on Wednesday. HSBC decreased their target price on Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating on the stock in a research report on Wednesday. Finally, National Bankshares decreased their target price on Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Ballard Power Systems has an average rating of “Hold” and an average target price of $3.74.

Ballard Power Systems Stock Up 6.6 %

Shares of NASDAQ BLDP 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 52 week low of $2.42 and a 52 week high of $5.68. The stock has a market capitalization of $918.82 million, a P/E ratio of -5.20 and a beta of 1.65. The stock’s fifty day moving average is $2.89 and its 200 day moving average is $3.24.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. 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 business posted ($0.11) EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 period. Swiss National Bank lifted its stake in Ballard Power Systems by 1.9% in the third quarter. Swiss National Bank now owns 529,800 shares of the technology company’s stock valued at $1,967,000 after buying an additional 10,100 shares during the period. Vanguard Group Inc. lifted its stake in 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 valued at $33,476,000 after buying an additional 148,321 shares during the period. Public Sector Pension Investment Board lifted its stake in 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 valued at $2,005,000 after buying an additional 4,677 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in 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 valued at $133,000 after buying an additional 19,284 shares during the period. 28.02% of the stock is 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.