Hydrogenics Co. (HYGS) Expected to Announce Quarterly Sales of $9.55 Million

Analysts expect Hydrogenics Co. (NASDAQ:HYGS) (TSE:HYG) to post sales of $9.55 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Hydrogenics’ earnings, with estimates ranging from $8.00 million to $11.10 million. Hydrogenics reported sales of $8.15 million in the same quarter last year, which would suggest a positive year over year growth rate of 17.2%. The firm is expected to issue its next quarterly earnings results on Friday, May 10th.

According to Zacks, analysts expect that Hydrogenics will report full-year sales of $45.55 million for the current financial year, with estimates ranging from $38.00 million to $53.10 million. For the next financial year, analysts forecast that the firm will report sales of $90.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Hydrogenics.

Hydrogenics (NASDAQ:HYGS) (TSE:HYG) last posted its quarterly earnings data on Friday, March 15th. The energy company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. Hydrogenics had a negative net margin of 39.35% and a negative return on equity of 81.90%. The company had revenue of $10.48 million during the quarter, compared to the consensus estimate of $10.05 million.

HYGS has been the subject of a number of analyst reports. Roth Capital cut shares of Hydrogenics from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research note on Wednesday, January 30th. ValuEngine upgraded shares of Hydrogenics from a “buy” rating to a “strong-buy” rating in a report on Monday, December 31st. HC Wainwright raised their price target on shares of Hydrogenics from $7.50 to $9.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Zacks Investment Research downgraded shares of Hydrogenics from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Canaccord Genuity started coverage on shares of Hydrogenics in a research report on Wednesday, January 16th. They set a “speculative buy” rating and a $8.75 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Hydrogenics currently has a consensus rating of “Hold” and an average target price of $8.56.

NASDAQ:HYGS traded down $0.05 during mid-day trading on Friday, hitting $7.93. 27,747 shares of the company’s stock were exchanged, compared to its average volume of 65,514. Hydrogenics has a one year low of $3.80 and a one year high of $9.10. The firm has a market capitalization of $151.92 million, a P/E ratio of -9.24 and a beta of 0.85.

A hedge fund recently raised its stake in Hydrogenics stock. Emancipation Management LLC lifted its holdings in shares of Hydrogenics Co. (NASDAQ:HYGS) (TSE:HYG) by 43.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,200 shares of the energy company’s stock after purchasing an additional 11,200 shares during the quarter. Hydrogenics comprises about 0.7% of Emancipation Management LLC’s holdings, making the stock its 21st biggest holding. Emancipation Management LLC owned about 0.20% of Hydrogenics worth $186,000 at the end of the most recent quarter. 16.45% of the stock is currently owned by hedge funds and other institutional investors.

About Hydrogenics

Hydrogenics Corporation, together with its subsidiaries, designs, develops, and manufactures hydrogen generation products based on water electrolysis technology; and fuel cell products based on proton exchange membrane technology. It operates in two segments, OnSite Generation and Power Systems. The OnSite Generation segment develops products for industrial gas, hydrogen fueling, and renewable energy storage markets.

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