BlackBerry (BB) Raised to “C-” at TheStreet

BlackBerry (NYSE:BB) was upgraded by stock analysts at TheStreet from a “d+” rating to a “c-” rating in a research report issued on Wednesday.

Several other equities research analysts have also recently issued reports on BB. Zacks Investment Research cut shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 3rd. BMO Capital Markets restated a “hold” rating and set a $8.00 price objective on shares of BlackBerry in a research report on Friday, December 21st. Canaccord Genuity cut their price objective on shares of BlackBerry from $11.00 to $9.00 and set a “hold” rating for the company in a research report on Friday, December 21st. Royal Bank of Canada cut their price objective on shares of BlackBerry from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Friday, December 21st. Finally, CIBC cut shares of BlackBerry to a “buy” rating in a research report on Sunday, December 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $10.19.

Shares of NYSE BB opened at $9.36 on Wednesday. The stock has a market capitalization of $5.12 billion, a PE ratio of 187.20 and a beta of 2.06. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 0.26. BlackBerry has a 52 week low of $6.57 and a 52 week high of $13.38.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Thursday, December 20th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. BlackBerry had a net margin of 3.63% and a return on equity of 0.98%. The firm had revenue of $226.00 million during the quarter, compared to analysts’ expectations of $215.38 million. During the same period last year, the business earned $0.03 earnings per share. BlackBerry’s revenue was up .0% compared to the same quarter last year. As a group, equities research analysts predict that BlackBerry will post 0.02 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Primecap Management Co. CA acquired a new stake in shares of BlackBerry during the third quarter valued at about $839,034,000. Iridian Asset Management LLC CT increased its position in shares of BlackBerry by 5.1% during the fourth quarter. Iridian Asset Management LLC CT now owns 13,978,939 shares of the company’s stock valued at $99,390,000 after acquiring an additional 682,263 shares during the last quarter. Vanguard Group Inc. acquired a new stake in shares of BlackBerry during the third quarter valued at about $142,508,000. Vanguard Group Inc acquired a new stake in shares of BlackBerry during the third quarter valued at about $142,508,000. Finally, Mackenzie Financial Corp increased its position in shares of BlackBerry by 51.9% during the fourth quarter. Mackenzie Financial Corp now owns 9,646,380 shares of the company’s stock valued at $68,586,000 after acquiring an additional 3,295,576 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

About BlackBerry

BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.

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