Contact Information

37 Westminster Buildings, Theatre Square,
Nottingham, NG1 6LG

We Are Available 24/ 7. Call Now.

Beam Global (BEEM) came out with a quarterly loss of $0.77 per share versus the Zacks Consensus Estimate of a loss of $0.45. This compares to loss of $0.22 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -71.11%. A quarter ago, it was expected that this company would post a loss of $0.24 per share when it actually produced a loss of $0.67, delivering a surprise of -179.17%.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

Beam Global, which belongs to the Zacks Automotive – Original Equipment industry, posted revenues of $7.9 million for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 6.44%. This compares to year-ago revenues of $3.49 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Beam Global shares have lost about 8.3% since the beginning of the year versus the S&P 500’s gain of 3.4%.

What’s Next for Beam Global?

While Beam Global has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Beam Global: mixed. While the magnitude and direction of estimate revisions could change following the company’s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.43 on $8.88 million in revenues for the coming quarter and -$1.38 on $48.54 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive – Original Equipment is currently in the bottom 17% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Dana (DAN), another stock in the same industry, has yet to report results for the quarter ended March 2023.

This automotive equipment supplier is expected to post quarterly earnings of $0.16 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Dana’s revenues are expected to be $2.57 billion, up 3.4% from the year-ago quarter.

Free Report: Must-See Hydrogen Stocks

Hydrogen fuel cells are already used to provide efficient, ultra-clean energy to buses, ships and even hospitals. This technology is on the verge of a massive breakthrough, one that could make hydrogen a major source of America’s power. It could even totally revolutionize the EV industry.

Zacks has released a special report revealing the 4 stocks experts believe will deliver the biggest gains.

Download Cashing In on Cleaner Energy today, absolutely free.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Beam Global (BEEM) : Free Stock Analysis Report

Dana Incorporated (DAN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source link

Share:

administrator

Leave a Reply

Your email address will not be published. Required fields are marked *