Shares of BlackBerry Ltd (NYSE:BB) have received an average recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $10.38.
Several equities analysts have recently weighed in on the stock. BMO Capital Markets reiterated a “hold” rating and set a $8.00 price objective on shares of BlackBerry in a report on Friday, December 21st. Canaccord Genuity dropped their price objective on shares of BlackBerry from $11.00 to $9.00 and set a “hold” rating on the stock in a report on Friday, December 21st. Raymond James reiterated a “market perform” rating and set a $10.00 price objective on shares of BlackBerry in a report on Friday, December 21st. Royal Bank of Canada dropped their price objective on shares of BlackBerry from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Friday, December 21st. Finally, CIBC upgraded shares of BlackBerry from a “neutral” rating to an “outperform” rating and set a $14.00 price objective on the stock in a report on Monday, November 19th. They noted that the move was a valuation call.
BB stock opened at $7.57 on Wednesday. The firm has a market capitalization of $4.09 billion, a P/E ratio of 151.40, a PEG ratio of 20.12 and a beta of 1.80. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 0.26. BlackBerry has a 12-month low of $6.57 and a 12-month high of $14.55.
BlackBerry (NYSE:BB) last released its earnings results on Thursday, December 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $226.00 million for the quarter, compared to analyst estimates of $215.38 million. BlackBerry had a net margin of 3.63% and a return on equity of 0.98%. BlackBerry’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Equities analysts anticipate that BlackBerry will post 0.02 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in BB. Primecap Management Co. CA acquired a new position in shares of BlackBerry during the third quarter valued at about $839,034,000. Iridian Asset Management LLC CT bought a new stake in shares of BlackBerry during the third quarter worth about $151,316,000. Vanguard Group Inc bought a new stake in shares of BlackBerry during the third quarter worth about $142,508,000. Vanguard Group Inc. bought a new stake in shares of BlackBerry during the third quarter worth about $142,508,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of BlackBerry during the third quarter worth about $90,990,000. Hedge funds and other institutional investors own 53.71% of the company’s stock.
BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.
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