BlackBerry (NYSE:BB) had its price objective upped by equities researchers at Royal Bank of Canada from $10.50 to $11.00 in a research note issued to investors on Thursday, December 21st. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential downside of 19.41% from the company’s previous close.
Several other brokerages have also recently issued reports on BB. Vetr cut BlackBerry from a “sell” rating to a “strong sell” rating and set a $10.12 target price for the company. in a report on Wednesday, October 11th. Canaccord Genuity upped their target price on BlackBerry from $10.00 to $11.00 and gave the company a “hold” rating in a report on Tuesday, October 17th. Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, November 14th. Scotiabank reiterated an “outperform” rating and set a $13.50 price target on shares of BlackBerry in a report on Thursday, September 21st. Finally, Bank of America raised their target price on BlackBerry from $7.50 to $8.00 and gave the company an “underperform” rating in a report on Friday, September 22nd. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. BlackBerry currently has an average rating of “Hold” and an average target price of $10.48.
Shares of BlackBerry (NYSE BB) opened at $13.65 on Thursday. The company has a market capitalization of $7,300.00, a P/E ratio of 20.68 and a beta of 1.09. BlackBerry has a 52-week low of $6.65 and a 52-week high of $14.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.26 and a quick ratio of 4.26.
BlackBerry (NYSE:BB) last issued its earnings results on Wednesday, December 20th. The company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.49). The firm had revenue of $235.00 million during the quarter, compared to analysts’ expectations of $216.70 million. BlackBerry had a net margin of 37.36% and a return on equity of 3.70%. BlackBerry’s quarterly revenue was down 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. equities analysts expect that BlackBerry will post -0.02 EPS for the current year.
BlackBerry Company Profile
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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