Zacks: Analysts Expect Bloom Energy Co. (NYSE:BE) Will Announce Quarterly Sales of $243.91 Million

Equities research analysts expect that Bloom Energy Co. (NYSE:BE – Get Rating) will post sales of $243.91 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Bloom Energy’s earnings. The highest sales estimate is $269.90 million and the lowest is $225.90 million. Bloom Energy reported sales of $228.47 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.8%. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Bloom Energy will report full-year sales of $1.13 billion for the current year, with estimates ranging from $1.12 billion to $1.13 billion. For the next year, analysts forecast that the business will report sales of $1.48 billion, with estimates ranging from $1.27 billion to $1.63 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Bloom Energy.

Bloom Energy (NYSE:BE – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12). The business had revenue of $201.04 million during the quarter, compared to analysts’ expectations of $220.75 million. Bloom Energy had a negative return on equity of 738.94% and a negative net margin of 22.25%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS.

Several equities analysts recently issued reports on BE shares. Zacks Investment Research downgraded shares of Bloom Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 13th. Bank of America raised Bloom Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $28.00 to $29.00 in a research report on Monday, February 14th. Susquehanna Bancshares dropped their price target on Bloom Energy from $33.00 to $28.00 in a research report on Tuesday, May 10th. Raymond James decreased their price objective on Bloom Energy from $34.00 to $27.00 and set a “strong-buy” rating for the company in a report on Friday, February 11th. Finally, Truist Financial started coverage on shares of Bloom Energy in a report on Monday, May 2nd. They set a “hold” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $26.09.

In other news, CEO Kr Sridhar sold 10,823 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $21.40, for a total transaction of $231,612.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Shawn Marie Soderberg sold 2,464 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $21.39, for a total transaction of $52,704.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,437 shares of company stock valued at $1,939,871. 2.78% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Bloom Energy during the fourth quarter valued at approximately $74,217,000. BlackRock Inc. raised its holdings in Bloom Energy by 11.7% in the 4th quarter. BlackRock Inc. now owns 15,640,711 shares of the company’s stock worth $343,002,000 after purchasing an additional 1,644,528 shares during the period. Marshall Wace LLP lifted its position in Bloom Energy by 890.3% during the fourth quarter. Marshall Wace LLP now owns 1,122,137 shares of the company’s stock valued at $24,609,000 after purchasing an additional 1,008,820 shares in the last quarter. California State Teachers Retirement System grew its holdings in Bloom Energy by 476.6% during the fourth quarter. California State Teachers Retirement System now owns 1,116,075 shares of the company’s stock valued at $24,476,000 after purchasing an additional 922,520 shares during the period. Finally, FMR LLC purchased a new stake in Bloom Energy in the first quarter worth about $11,026,000. 65.68% of the stock is owned by institutional investors.

Shares of NYSE:BE traded up $0.60 on Wednesday, hitting $15.61. The company had a trading volume of 4,106,712 shares, compared to its average volume of 3,926,007. The firm’s 50-day simple moving average is $20.13 and its two-hundred day simple moving average is $21.23. Bloom Energy has a 1 year low of $11.47 and a 1 year high of $37.01. The company has a quick ratio of 1.56, a current ratio of 2.09 and a debt-to-equity ratio of 2,524.52. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of -12.59 and a beta of 3.38.

About Bloom Energy (Get Rating)

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.

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