BlackBerry Ltd (NYSE:BB) Receives $7.65 Average PT from Brokerages

Shares of BlackBerry Ltd (NYSE:BB) have received an average rating of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $7.65.

Several research analysts have weighed in on the company. Royal Bank of Canada cut their price objective on BlackBerry from $9.00 to $7.50 and set a “sector perform” rating on the stock in a research report on Wednesday, September 25th. Raymond James set a $9.50 target price on BlackBerry and gave the company a “market perform” rating in a research report on Wednesday, September 25th. Macquarie decreased their target price on BlackBerry from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Bank of America upgraded BlackBerry from an “underperform” rating to a “neutral” rating in a research note on Monday, November 4th. Finally, Canaccord Genuity set a $7.00 price target on shares of BlackBerry and gave the stock a “hold” rating in a report on Tuesday, September 24th.

Several hedge funds have recently bought and sold shares of BB. B & T Capital Management DBA Alpha Capital Management purchased a new stake in BlackBerry in the 3rd quarter worth about $26,000. Intercontinental Wealth Advisors LLC bought a new position in BlackBerry in the 2nd quarter valued at about $42,000. Acadian Asset Management LLC bought a new position in BlackBerry in the 2nd quarter valued at about $59,000. Wealth Architects LLC acquired a new position in BlackBerry during the 3rd quarter valued at about $80,000. Finally, Dynamic Capital Management Ltd increased its stake in BlackBerry by 29.9% during the 3rd quarter. Dynamic Capital Management Ltd now owns 17,400 shares of the company’s stock valued at $91,000 after buying an additional 4,005 shares during the period. Institutional investors own 51.71% of the company’s stock.

Shares of BlackBerry stock traded up $0.04 during mid-day trading on Friday, hitting $5.41. 3,201,729 shares of the stock were exchanged, compared to its average volume of 4,461,445. BlackBerry has a 12 month low of $4.86 and a 12 month high of $10.29. The company has a 50-day simple moving average of $5.40 and a 200 day simple moving average of $6.70. The company has a market capitalization of $2.97 billion, a P/E ratio of 41.62 and a beta of 1.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.28 and a current ratio of 2.28.

BlackBerry (NYSE:BB) last released its earnings results on Tuesday, September 24th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $244.00 million during the quarter, compared to analyst estimates of $267.91 million. BlackBerry had a return on equity of 1.32% and a net margin of 3.19%. BlackBerry’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. Analysts predict that BlackBerry will post -0.05 EPS for the current year.

About BlackBerry

BlackBerry Limited provides enterprise software and services worldwide. The company 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 networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.

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Analyst Recommendations for BlackBerry (NYSE:BB)

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