$233.47 Million in Sales Expected for Bloom Energy Corp (NYSE:BE) This Quarter

Equities research analysts expect Bloom Energy Corp (NYSE:BE) to announce sales of $233.47 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Bloom Energy’s earnings. The lowest sales estimate is $230.30 million and the highest is $240.22 million. Bloom Energy posted sales of $190.19 million in the same quarter last year, which suggests a positive year-over-year growth rate of 22.8%. The company is expected to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Bloom Energy will report full-year sales of $919.83 million for the current fiscal year, with estimates ranging from $884.44 million to $968.02 million. For the next year, analysts anticipate that the firm will report sales of $969.33 million, with estimates ranging from $847.18 million to $1.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Bloom Energy.

Bloom Energy (NYSE:BE) last announced its earnings results on Monday, August 12th. The company reported ($0.59) earnings per share for the quarter, meeting the consensus estimate of ($0.59). The company had revenue of $233.80 million during the quarter, compared to the consensus estimate of $207.56 million. Bloom Energy had a negative return on equity of 387.28% and a negative net margin of 38.77%. The firm’s quarterly revenue was up 38.4% compared to the same quarter last year.

Several analysts have recently weighed in on the company. Robert W. Baird lowered their target price on Bloom Energy from $16.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday. KeyCorp restated an “overweight” rating and set a $15.00 target price (down from $27.00) on shares of Bloom Energy in a research note on Wednesday. Raymond James lowered their target price on Bloom Energy from $16.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Bloom Energy from $33.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Bank of America cut shares of Bloom Energy from a “neutral” rating to an “underperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Bloom Energy has an average rating of “Buy” and an average price target of $16.45.

In other Bloom Energy news, CFO Randy W. Furr sold 46,675 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $11.16, for a total value of $520,893.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. Company insiders own 36.45% of the company’s stock.

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

Shares of Bloom Energy stock traded up $0.04 during trading hours on Thursday, hitting $4.95. 3,803,074 shares of the company’s stock traded hands, compared to its average volume of 1,407,582. The stock has a 50 day simple moving average of $10.80 and a 200-day simple moving average of $11.93. The company has a quick ratio of 1.89, a current ratio of 2.32 and a debt-to-equity ratio of 10.34. The company has a market cap of $908.51 million and a PE ratio of -2.04. Bloom Energy has a twelve month low of $4.41 and a twelve month high of $38.00.

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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