Bloom Energy Corp (NYSE:BE) Expected to Post Quarterly Sales of $233.47 Million

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Wall Street brokerages expect that Bloom Energy Corp (NYSE:BE) will post $233.47 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Bloom Energy’s earnings. The lowest sales estimate is $230.30 million and the highest is $240.22 million. Bloom Energy reported sales of $190.19 million during the same quarter last year, which indicates a positive year over year growth rate of 22.8%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Bloom Energy will report full year sales of $919.83 million for the current financial year, with estimates ranging from $884.44 million to $968.02 million. For the next fiscal year, analysts expect that the firm will report 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 research firms that cover Bloom Energy.

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

A number of analysts have issued reports on BE shares. ValuEngine raised Bloom Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Bloom Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. Robert W. Baird cut 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. JPMorgan Chase & Co. dropped their target price on Bloom Energy from $33.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Bank of America lowered Bloom Energy from a “neutral” rating to an “underperform” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.45.

NYSE:BE traded up $0.04 during trading hours on Thursday, reaching $4.95. The stock had a trading volume of 3,803,074 shares, compared to its average volume of 1,407,582. The company has a debt-to-equity ratio of 10.34, a quick ratio of 1.89 and a current ratio of 2.32. Bloom Energy has a 52 week low of $4.41 and a 52 week high of $38.00. The company has a 50 day moving average price of $10.80 and a two-hundred day moving average price of $11.93. The stock has a market capitalization of $908.51 million and a PE ratio of -2.04.

In related news, COO Susan Seilheimer Brennan sold 11,471 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $10.72, for a total transaction of $122,969.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Randy W. Furr sold 46,675 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $11.16, for a total value of $520,893.00. The disclosure for this sale can be found here. 36.45% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Paulson Wealth Management Inc. purchased a new position in Bloom Energy during the first quarter worth approximately $734,000. BlackRock Inc. boosted its position in Bloom Energy by 29.3% during the fourth quarter. BlackRock Inc. now owns 432,121 shares of the company’s stock worth $4,313,000 after purchasing an additional 97,927 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in Bloom Energy during the second quarter worth approximately $7,300,000. Whitnell & Co. purchased a new position in Bloom Energy during the first quarter worth approximately $413,000. Finally, Waldron Private Wealth LLC purchased a new position in Bloom Energy during the first quarter worth approximately $323,000. Institutional investors own 33.58% of the company’s stock.

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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Earnings History and Estimates for Bloom Energy (NYSE:BE)

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