Bloom Energy (BE) Set to Announce Quarterly Earnings on Thursday

Bloom Energy (NYSE:BE) will be posting its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect Bloom Energy to post earnings of $0.09 per share for the quarter. Bloom Energy has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business had revenue of $335.80 million during the quarter, compared to the consensus estimate of $307.73 million. During the same quarter in the prior year, the company earned ($0.32) earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts expect Bloom Energy to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Bloom Energy Stock Performance

Shares of BE stock opened at $10.10 on Thursday. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. The company’s fifty day moving average price is $10.56 and its 200-day moving average price is $12.07. The stock has a market cap of $2.30 billion, a PE ratio of -7.48 and a beta of 2.69. Bloom Energy has a 12 month low of $8.41 and a 12 month high of $18.14.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group cut shares of Bloom Energy from a “buy” rating to a “hold” rating and cut their price objective for the stock from $15.00 to $11.00 in a report on Friday, September 6th. Truist Financial reduced their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Susquehanna cut their target price on Bloom Energy from $16.00 to $13.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price target on Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Piper Sandler reissued a “neutral” rating and set a $10.00 price objective (down from $11.00) on shares of Bloom Energy in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.39.

About Bloom Energy

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 solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.