BlackBerry Limited (BBRY) Set to Announce Quarterly Earnings on Thursday
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) is scheduled to announce its earnings results before the market opens on Thursday, September 28th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last issued its quarterly earnings data on Friday, June 23rd. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $244.00 million during the quarter, compared to the consensus estimate of $262.80 million. BlackBerry Limited had a net margin of 11.68% and a negative return on equity of 1.67%. The company’s revenue for the quarter was down 42.5% on a year-over-year basis. On average, analysts expect BlackBerry Limited to post $0.04 EPS for the current fiscal year and $0.07 EPS for the next fiscal year.
BlackBerry Limited (NASDAQ:BBRY) opened at 9.145 on Tuesday. BlackBerry Limited has a 12 month low of $6.65 and a 12 month high of $11.74. The firm has a 50 day moving average of $9.05 and a 200-day moving average of $9.24. The firm has a market cap of $4.86 billion, a P/E ratio of 37.634 and a beta of 0.99.
BlackBerry Limited announced that its Board of Directors has authorized a stock buyback plan on Friday, June 23rd that permits the company to repurchase 31,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
An institutional investor recently raised its position in BlackBerry Limited stock. State Street Corp increased its position in BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) by 8.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,692 shares of the company’s stock after buying an additional 2,200 shares during the period. State Street Corp’s holdings in BlackBerry Limited were worth $277,000 as of its most recent SEC filing. Institutional investors and hedge funds own 63.32% of the company’s stock.
BBRY has been the topic of several analyst reports. Raymond James Financial, Inc. downgraded shares of BlackBerry Limited from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $9.50 to $11.00 in a report on Monday, May 29th. Royal Bank Of Canada set a $10.00 target price on shares of BlackBerry Limited and gave the company a “hold” rating in a report on Wednesday, August 9th. Credit Suisse Group reaffirmed an “underperform” rating and issued a $8.00 target price on shares of BlackBerry Limited in a report on Wednesday, June 21st. Vetr raised shares of BlackBerry Limited from a “buy” rating to a “strong-buy” rating and set a $12.74 target price on the stock in a report on Monday, June 5th. Finally, Zacks Investment Research raised shares of BlackBerry Limited from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, June 28th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.58.
BlackBerry Limited 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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