Shares of BlackBerry Ltd. (NASDAQ:BBRY) have been assigned a consensus recommendation of “Hold” from the twenty ratings firms that are presently covering the company. Two research analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.01.
A number of equities analysts recently issued reports on BBRY shares. Royal Bank Of Canada restated a “sector perform” rating and issued a $7.00 target price (down from $8.00) on shares of BlackBerry in a report on Tuesday, June 21st. BMO Capital Markets restated a “hold” rating and issued a $8.00 target price on shares of BlackBerry in a report on Wednesday, June 22nd. MKM Partners decreased their target price on BlackBerry from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Friday, June 24th. Deutsche Bank AG restated a “hold” rating on shares of BlackBerry in a report on Monday, June 27th. Finally, Imperial Capital restated an “in-line” rating and issued a $7.00 target price on shares of BlackBerry in a report on Tuesday, June 28th.
Shares of BlackBerry (NASDAQ:BBRY) opened at 7.49 on Wednesday. The firm’s market capitalization is $3.92 billion. BlackBerry has a 52 week low of $6.23 and a 52 week high of $9.46. The firm’s 50-day moving average price is $7.69 and its 200 day moving average price is $7.30.
BlackBerry (NASDAQ:BBRY) last issued its earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. The business had revenue of $352 million for the quarter. BlackBerry had a negative return on equity of 3.36% and a negative net margin of 78.41%. The business’s revenue was down 28.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. On average, analysts anticipate that BlackBerry will post ($0.01) EPS for the current year.
A number of institutional investors have recently modified their holdings of BBRY. Societe Generale purchased a new position in shares of BlackBerry during the second quarter valued at about $2,013,000. World Asset Management Inc raised its position in shares of BlackBerry by 7.8% in the second quarter. World Asset Management Inc now owns 32,372 shares of the smartphone producer’s stock valued at $217,000 after buying an additional 2,330 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in BlackBerry by 2.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 804,797 shares of the smartphone producer’s stock worth $5,376,000 after buying an additional 16,940 shares during the last quarter. Capital Fund Management S.A. increased its stake in BlackBerry by 59.2% in the second quarter. Capital Fund Management S.A. now owns 241,875 shares of the smartphone producer’s stock worth $1,623,000 after buying an additional 89,980 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in BlackBerry during the second quarter worth $32,778,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.
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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