After markets closed Tuesday, online apparel retailer Stitch Fix reported better than expected quarterly results but issued downside guidance. In premarket trading Wednesday morning, the stock was down about 20%. Fashion retailer Express beat on both the top and bottom lines and guided 2023 revenues above estimates. Shares traded up nearly 10% early Wednesday.
Campbell Soup reported mixed results Wednesday morning and the stock traded up about 1%. Container shipping firm Zim beat quarterly revenue and earnings estimates and declared a dividend of $17 a share to shareholders of record on March 23. Shares traded up more than 10% in Wednesday’s premarket session.
We already have previewed reports due out after markets close Wednesday and before they open on Thursday: CrowdStrike, First Majestic Silver, JD.com and KE Holdings, as well as two tech companies set to share their results after Thursday’s closing bell: DocuSign and Oracle.
Here is a look at two other companies set to report results after markets close Thursday and one reporting after the close on Friday.
Shares of hydrogen fuel-cell maker Ballard Power Systems Inc. (NASDAQ: BLDP) rose by 75% in early February of 2021, only to lose about 72% in the 13 months following that peak. The company is scheduled to report December quarter earnings after markets close Friday.
This past month, the stock has added more than 30% to its share price since February 23, the day before Russia invaded Ukraine. The threat to global oil and natural gas supplies has pumped up solar and other alternative energy stocks: Bloom Energy (up 35.4%) and FuelCell Energy (up 34.8%) are doing even better. Hydrogen semi-truck makers Nikola and Hyzon are up 10.5% and 19.6%, respectively over the same two-week period.
Analysts are cautious on Ballard Power Systems. Thirteen of 24 brokerages have Hold ratings while nine have a Buy or Strong Buy rating. At a recent price of around $11.90 a share, the upside potential based on a median price target of $18.50 is 55.5%. At the high price target of $40.00, the upside potential is 236%.
Ballard Power is expected to report fourth-quarter revenue of $29.86 million, which would be up 18.5% sequentially and up 4.4% year over year. Analysts are forecasting a loss per share of $0.07, better than the prior-quarter loss of $0.10, but a penny worse than the loss in the year-ago quarter. For the 2021 fiscal year that ended in December, analysts are forecasting a loss per share of $0.31, worse than the $0.20 per-share loss last year, on sales of $97.34 million, down 6.3%.
The company is not expected to post a profit in either 2022 or 2023. The stock’s enterprise value to sales multiples for 2021, 2022 and 2023 are 23.2, 18.4 and 12.1, respectively. Ballard Power does not pay a dividend, and total shareholder return for the past 12 months is negative 50.8%.
Shares of electric vehicle charging station maker and distributor Blink Charging Co. (NASDAQ: BLNK) surged in late January of 2021 to a 12-month gain of more than 500%. Since then, the stock has tumbled by about 60%. Blink reports results after markets close Thursday.
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