Block, Carvana, Coinbase, PayPal and Starbucks are on the calendar to release quarterly results after markets close Thursday afternoon. Before U.S. markets open on Friday, Cardinal Health and DraftKings are expected to report quarterly results.
Here is a preview of three companies set to post quarterly results first thing Monday morning.
Ballard Power
Shares of hydrogen fuel-cell maker Ballard Power Systems Inc. (NASDAQ: BLDP) peaked almost exactly one year ago, and the share price has more or less steadily declined ever since. The stock trades down more than 70% since posting that 52-week high.
In late September, the company announced that it will invest $130 million to build a new China headquarters, manufacturing facility and research and development center near Shanghai. More investment was not what investors wanted to hear, and the stock posted a new 52-week low just two weeks later.
Analysts are cautious on the stock. Of 24 brokerages covering it, 16 have a Hold rating while six have a Buy or Strong Buy rating. At a recent price of around $5.30 a share, the implied gain based on a median price target of $8.16 is 54%. At the high price target of $8.63, the upside potential is about 62.8%.
Ballard Power is expected to report third-quarter revenue of $23.94 million, which would be up 14.6% sequentially but down 5.0% year over year. Analysts are forecasting a loss per share of $0.14, better than the prior-quarter loss of $0.19 but worse than the loss of $0.10 in the year-ago quarter. For the 2022 fiscal year, analysts are forecasting a loss per share of $0.59, worse than the $0.39 per-share loss last year, on sales of $98.55 million, down about 5.7%.
The company is not expected to post a profit in 2022, 2023 or 2024. The enterprise value to sales multiple for 2022 is 6.5, for 2023 is 4.8 and for 2024 is 3.1. Ballard Power does not pay a dividend, and the total shareholder return for the past 12 months was negative 71.2%.
NiSource
NiSource Inc. (NYSE: NI) is a regulated natural gas and electricity utility serving more than 3 million customers from Indiana to Maryland. Ironically, NiSource is one of just three large U.S. utilities that has not committed to a net-zero emissions policy and is the only utility to earn a grade of A in the Sierra Club report “The Dirty Truth About Utility Climate Pledges.” NiSource posted a score of 85, compared to an average of 23 for utilities that have made a climate pledge. The Sierra Club noted, “This suggests that most utilities’ corporate pledges are not translating into action.”
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