BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) has been given an average recommendation of “Hold” by the twenty analysts that are presently covering the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.39.
Several research firms recently weighed in on BBRY. BMO Capital Markets raised their price objective on BlackBerry from $8.00 to $9.00 and gave the company a “market perform” rating in a research note on Monday. William Blair reissued a “market perform” rating on shares of BlackBerry in a research note on Wednesday. Zacks Investment Research raised BlackBerry from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research note on Friday, January 27th. MKM Partners reissued a “neutral” rating and set a $8.00 price target on shares of BlackBerry in a research note on Friday, December 23rd. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of BlackBerry in a research note on Wednesday, April 12th.
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A number of large investors have recently modified their holdings of the company. Beech Hill Advisors Inc. increased its stake in shares of BlackBerry by 8.1% in the first quarter. Beech Hill Advisors Inc. now owns 86,430 shares of the smartphone producer’s stock worth $670,000 after buying an additional 6,500 shares during the last quarter. Kissinger Financial Services LLC increased its stake in shares of BlackBerry by 23.6% in the first quarter. Kissinger Financial Services LLC now owns 42,565 shares of the smartphone producer’s stock worth $330,000 after buying an additional 8,131 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of BlackBerry by 13.2% in the first quarter. Capstone Asset Management Co. now owns 62,943 shares of the smartphone producer’s stock worth $488,000 after buying an additional 7,330 shares during the last quarter. Bank of Montreal Can increased its stake in shares of BlackBerry by 2.1% in the first quarter. Bank of Montreal Can now owns 5,640,607 shares of the smartphone producer’s stock worth $43,715,000 after buying an additional 113,419 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of BlackBerry by 7.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,492,699 shares of the smartphone producer’s stock worth $10,284,000 after buying an additional 109,818 shares during the last quarter. Institutional investors and hedge funds own 62.41% of the company’s stock.
BlackBerry (NASDAQ:BBRY) traded down 0.22% during midday trading on Tuesday, reaching $9.08. 8,666,767 shares of the company’s stock were exchanged. BlackBerry has a 12 month low of $6.23 and a 12 month high of $9.19. The company’s market cap is $4.82 billion. The company has a 50 day moving average price of $7.50 and a 200 day moving average price of $7.37.
BlackBerry (NASDAQ:BBRY) last released its quarterly earnings data on Friday, March 31st. The smartphone producer reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. The business had revenue of $297 million for the quarter, compared to analyst estimates of $288.45 million. BlackBerry had a negative return on equity of 3.62% and a negative net margin of 93.19%. BlackBerry’s revenue was down 39.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share. On average, equities analysts anticipate that BlackBerry will post $0.03 EPS for the current 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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