Cormark Predicts Higher Earnings for Ballard Power Systems

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Stock analysts at Cormark lifted their FY2024 earnings per share estimates for shares of Ballard Power Systems in a research report issued on Wednesday, November 6th. Cormark analyst M. Whale now forecasts that the technology company will post earnings per share of ($0.39) for the year, up from their prior forecast of ($0.49). 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 ($0.14) EPS, Q3 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.41) EPS.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $19.36 million. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. Ballard Power Systems’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.10) earnings per share.

Other research analysts have also issued reports about the company. Hsbc Global Res lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Citigroup lowered their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a report on Monday, September 30th. TD Securities downgraded Ballard Power Systems from a “hold” rating to a “sell” rating and cut their price objective for the stock from $2.50 to $1.50 in a research report on Monday, August 12th. HSBC cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.78.

Ballard Power Systems Stock Up 0.7 %

Shares of NASDAQ BLDP opened at $1.35 on Friday. The company has a market capitalization of $404.22 million, a P/E ratio of -1.23 and a beta of 1.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 10.05. The company has a 50 day simple moving average of $1.67 and a 200-day simple moving average of $2.20. Ballard Power Systems has a 1 year low of $1.27 and a 1 year high of $4.02.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in Ballard Power Systems by 8.8% in the 2nd quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock valued at $5,224,000 after purchasing an additional 186,833 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Ballard Power Systems by 1.2% during the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after buying an additional 8,154 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Ballard Power Systems by 7.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock valued at $1,572,000 after acquiring an additional 38,662 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Ballard Power Systems by 12.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,019 shares of the technology company’s stock worth $535,000 after acquiring an additional 32,909 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Ballard Power Systems by 4.1% during the 1st quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock worth $600,000 after acquiring an additional 8,549 shares in the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

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.