BlackBerry Ltd. (BBRY) PT Raised to $7.50
BlackBerry Ltd. (NASDAQ:BBRY) had its target price boosted by equities research analysts at Royal Bank Of Canada from $7.00 to $7.50 in a report released on Thursday. The firm presently has a “sector perform” rating on the smartphone producer’s stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 6.02% from the stock’s current price.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of BlackBerry from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research report on Tuesday, July 19th. TD Securities reissued a “buy” rating and issued a $9.00 price objective on shares of BlackBerry in a research report on Monday, August 29th. Wells Fargo & Co. reissued a “cautious” rating and issued a $7.63 price objective (up from $7.63) on shares of BlackBerry in a research report on Monday, September 26th. They noted that the move was a valuation call. Morgan Stanley reissued an “equal weight” rating and issued a $7.00 price objective on shares of BlackBerry in a research report on Thursday. Finally, BMO Capital Markets reissued a “hold” rating and issued a $8.00 price objective on shares of BlackBerry in a research report on Wednesday, June 22nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. BlackBerry currently has a consensus rating of “Hold” and a consensus target price of $7.92.
Shares of BlackBerry (NASDAQ:BBRY) opened at 7.98 on Thursday. The firm’s 50 day moving average is $7.80 and its 200-day moving average is $7.30. The firm’s market cap is $4.17 billion. BlackBerry has a 52 week low of $6.23 and a 52 week high of $9.46.
BlackBerry (NASDAQ:BBRY) last issued its quarterly earnings data on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The company had revenue of $352 million for the quarter. BlackBerry had a negative net margin of 78.41% and a negative return on equity of 3.36%. BlackBerry’s revenue for the quarter was down 28.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.13) earnings per share. Equities research analysts predict that BlackBerry will post ($0.03) EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Capital Fund Management S.A. raised its stake in shares of BlackBerry by 59.2% in the second quarter. Capital Fund Management S.A. now owns 241,875 shares of the smartphone producer’s stock worth $1,623,000 after buying an additional 89,980 shares during the period. Bank of Montreal Can acquired a new stake in shares of BlackBerry during the second quarter worth approximately $32,778,000. Greylin Investment Mangement Inc. raised its stake in shares of BlackBerry by 137.9% in the second quarter. Greylin Investment Mangement Inc. now owns 86,300 shares of the smartphone producer’s stock worth $579,000 after buying an additional 50,025 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of BlackBerry by 3.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 67,596 shares of the smartphone producer’s stock worth $545,000 after buying an additional 1,959 shares during the period. Finally, A.R.T. Advisors LLC raised its stake in shares of BlackBerry by 46.0% in the first quarter. A.R.T. Advisors LLC now owns 441,505 shares of the smartphone producer’s stock worth $3,571,000 after buying an additional 139,200 shares during the period. 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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