BlackBerry Ltd (BBRY) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) have earned an average rating of “Hold” from the twenty research firms that are currently covering the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.39.
A number of research analysts have weighed in on the stock. Canaccord Genuity set a $10.00 target price on shares of BlackBerry and gave the stock a “hold” rating in a research report on Wednesday, April 12th. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of BlackBerry in a research report on Wednesday, April 12th. BMO Capital Markets reaffirmed a “market perform” rating and set a $9.00 price objective (up previously from $8.00) on shares of BlackBerry in a research report on Monday. Zacks Investment Research raised shares of BlackBerry from a “hold” rating to a “strong-buy” rating and set a $9.00 price objective for the company in a research report on Wednesday, April 5th. Finally, William Blair reaffirmed a “market perform” rating on shares of BlackBerry in a research report on Thursday, April 6th.
A number of large investors have recently bought and sold shares of the company. Guardian Capital LP purchased a new stake in BlackBerry during the fourth quarter valued at $100,000. State Street Corp raised its stake in BlackBerry by 4.3% in the fourth quarter. State Street Corp now owns 26,952 shares of the smartphone producer’s stock valued at $186,000 after buying an additional 1,100 shares during the period. Two Sigma Securities LLC purchased a new stake in BlackBerry during the third quarter valued at $192,000. First Allied Advisory Services Inc. raised its stake in BlackBerry by 9.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 29,020 shares of the smartphone producer’s stock valued at $200,000 after buying an additional 2,500 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in BlackBerry during the fourth quarter valued at $201,000. Institutional investors own 62.41% of the company’s stock.
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Shares of BlackBerry (NASDAQ:BBRY) traded down 0.46% during mid-day trading on Tuesday, hitting $8.73. The stock had a trading volume of 5,226,863 shares. BlackBerry has a one year low of $6.23 and a one year high of $9.19. The company’s market cap is $4.64 billion. The firm’s 50 day moving average price is $7.33 and its 200-day moving average price is $7.34.
BlackBerry (NASDAQ:BBRY) last released its earnings results on Friday, March 31st. The smartphone producer reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.08. The firm earned $297 million during the quarter, compared to analyst estimates of $288.45 million. BlackBerry had a negative net margin of 93.19% and a negative return on equity of 3.62%. The business’s revenue was down 39.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) EPS. On average, equities research analysts anticipate that BlackBerry will post $0.02 earnings per share for the current fiscal 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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