Bloom Energy Corp (BE) Expected to Post Quarterly Sales of $192.54 Million

Wall Street brokerages expect that Bloom Energy Corp (NYSE:BE) will post $192.54 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Bloom Energy’s earnings. The highest sales estimate is $200.40 million and the lowest is $173.30 million. The firm is expected to report its next earnings results on Tuesday, May 7th.

On average, analysts expect that Bloom Energy will report full-year sales of $888.45 million for the current year, with estimates ranging from $842.30 million to $907.31 million. For the next fiscal year, analysts anticipate that the company will report sales of $1.08 billion, with estimates ranging from $961.20 million to $1.17 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Bloom Energy.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Tuesday, February 5th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.06). The company had revenue of $213.61 million for the quarter, compared to analysts’ expectations of $205.23 million.

Several research firms have commented on BE. ValuEngine upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Raymond James set a $13.00 price target on shares of Bloom Energy and gave the stock a “buy” rating in a report on Thursday, March 7th. Zacks Investment Research cut shares of Bloom Energy from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Finally, Credit Suisse Group upgraded shares of Bloom Energy from a “neutral” rating to an “outperform” rating and set a $10.06 price target for the company in a report on Wednesday, February 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Bloom Energy has a consensus rating of “Hold” and an average price target of $21.63.

In other news, COO Susan Seilheimer Brennan sold 22,941 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $12.10, for a total value of $277,586.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy Zervigon bought 50,000 shares of the stock in a transaction dated Tuesday, February 12th. The stock was bought at an average price of $9.46 per share, with a total value of $473,000.00. The disclosure for this purchase can be found here. Insiders have sold a total of 1,301,912 shares of company stock valued at $16,079,938 in the last quarter.

Several institutional investors have recently modified their holdings of BE. Bamco Inc. NY acquired a new position in shares of Bloom Energy in the 3rd quarter valued at $89,467,000. Hsbc Holdings PLC purchased a new stake in Bloom Energy in the 3rd quarter valued at $61,387,000. Vanguard Group Inc purchased a new stake in Bloom Energy in the 3rd quarter valued at $49,811,000. Vanguard Group Inc. purchased a new stake in Bloom Energy in the 3rd quarter valued at $49,811,000. Finally, Clearbridge Investments LLC purchased a new stake in Bloom Energy in the 3rd quarter valued at $47,989,000. Institutional investors and hedge funds own 19.62% of the company’s stock.

Shares of BE stock traded up $0.76 during trading on Friday, reaching $12.92. The company’s stock had a trading volume of 929,748 shares, compared to its average volume of 1,129,179. The company has a debt-to-equity ratio of 7.84, a quick ratio of 2.07 and a current ratio of 2.40. The stock has a market capitalization of $1.33 billion and a P/E ratio of -5.32. Bloom Energy has a 1-year low of $8.88 and a 1-year high of $38.00.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems. It 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. The company was formerly known as Ion America Corp.

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

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