BlackBerry Ltd. (BBRY) Updates FY17 Earnings Guidance
BlackBerry Ltd. (NASDAQ:BBRY) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of ($0.05)-0.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.16).
A number of analysts have commented on the company. MKM Partners restated a hold rating on shares of BlackBerry in a research report on Sunday, June 26th. Zacks Investment Research cut BlackBerry from a buy rating to a hold rating in a research report on Monday, June 6th. Wells Fargo & Co. reiterated a market perform rating and set a $7.62 target price on shares of BlackBerry in a research report on Monday, June 13th. Deutsche Bank AG reiterated a hold rating on shares of BlackBerry in a research report on Monday, June 27th. Finally, RBC Capital Markets increased their target price on BlackBerry from $7.00 to $7.50 and gave the stock a neutral rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company’s stock. BlackBerry presently has a consensus rating of Hold and an average price target of $7.76.
BlackBerry Ltd. (NASDAQ:BBRY) opened at 7.94 on Friday. The stock has a 50 day moving average price of $7.80 and a 200-day moving average price of $7.30. The stock’s market capitalization is $4.15 billion. BlackBerry Ltd. has a one year low of $6.04 and a one year high of $9.46.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The business earned $352 million during the quarter. BlackBerry had a negative return on equity of 4.49% and a negative net margin of 49.74%. BlackBerry’s revenue for the quarter was down 28.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) earnings per share. Analysts anticipate that BlackBerry Ltd. will post $70.89 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBRY. Ameriprise Financial Inc. boosted its position in BlackBerry by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 33,078 shares of the smartphone producer’s stock worth $222,000 after buying an additional 1,147 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in BlackBerry by 37.5% in the second quarter. Cubist Systematic Strategies LLC now owns 35,900 shares of the smartphone producer’s stock worth $241,000 after buying an additional 9,790 shares in the last quarter. Clinton Group Inc. boosted its position in BlackBerry by 13.2% in the second quarter. Clinton Group Inc. now owns 54,992 shares of the smartphone producer’s stock worth $369,000 after buying an additional 6,417 shares in the last quarter. Baird Financial Group Inc. acquired a new position in BlackBerry during the second quarter worth approximately $373,000. Finally, OMERS ADMINISTRATION Corp boosted its position in BlackBerry by 15.5% in the second quarter. OMERS ADMINISTRATION Corp now owns 85,900 shares of the smartphone producer’s stock worth $573,000 after buying an additional 11,500 shares in the last quarter. Hedge funds and other institutional investors own 57.99% of the company’s stock.
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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