Royal Bank Of Canada Analysts Give BlackBerry Limited (BBRY) a $10.00 Price Target
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) has been given a $10.00 target price by equities research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday. The brokerage presently has a “hold” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 10.74% from the stock’s current price.
A number of other equities analysts have also issued reports on the company. Scotiabank raised BlackBerry Limited from a “sector perform” rating to an “outperform” rating in a report on Wednesday, April 12th. Raymond James Financial, Inc. lowered BlackBerry Limited from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $9.50 to $11.00 in a report on Monday, May 29th. Canaccord Genuity set a $10.00 price target on BlackBerry Limited and gave the stock a “hold” rating in a report on Wednesday, April 12th. William Blair reissued a “market perform” rating on shares of BlackBerry Limited in a report on Wednesday, April 19th. Finally, BMO Capital Markets raised their price target on BlackBerry Limited from $8.00 to $9.00 and gave the stock a “market perform” rating in a report on Monday, April 17th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $9.45.
BlackBerry Limited (BBRY) opened at 9.03 on Wednesday. The firm has a market cap of $4.79 billion, a PE ratio of 37.16 and a beta of 0.97. BlackBerry Limited has a one year low of $6.65 and a one year high of $11.74. The stock has a 50 day moving average price of $9.99 and a 200 day moving average price of $8.80.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last released its quarterly earnings results on Friday, June 23rd. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.02. BlackBerry Limited had a negative return on equity of 1.67% and a net margin of 11.68%. The firm had revenue of $244 million for the quarter, compared to analyst estimates of $262.80 million. The company’s quarterly revenue was down 42.5% on a year-over-year basis. Equities research analysts expect that BlackBerry Limited will post $0.04 EPS for the current year.
BlackBerry Limited announced that its Board of Directors has initiated a stock buyback plan on Friday, June 23rd that authorizes the company to buyback 31,000,000 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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Several hedge funds have recently made changes to their positions in the stock. Tobam bought a new stake in shares of BlackBerry Limited during the second quarter valued at about $1,626,000. Andra AP fonden boosted its stake in shares of BlackBerry Limited by 102.9% in the second quarter. Andra AP fonden now owns 105,300 shares of the company’s stock valued at $1,365,000 after buying an additional 53,400 shares in the last quarter. American Asset Management Inc. bought a new stake in shares of BlackBerry Limited during the second quarter valued at about $123,000. Mastrapasqua Asset Management Inc. boosted its stake in shares of BlackBerry Limited by 5.2% in the second quarter. Mastrapasqua Asset Management Inc. now owns 40,600 shares of the company’s stock valued at $406,000 after buying an additional 2,000 shares in the last quarter. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of BlackBerry Limited during the second quarter valued at about $4,413,000. 63.31% of the stock is owned by institutional investors.
BlackBerry Limited Company Profile
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of 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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