BlackBerry Ltd. (BBRY) Releases FY17 Earnings Guidance
BlackBerry Ltd. (NASDAQ:BBRY) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of ($0.05)-0.00 for the period, compared to the Thomson Reuters consensus estimate of ($0.16).
A number of research firms have recently commented on BBRY. Imperial Capital reaffirmed an in-line rating and set a $7.00 price objective on shares of BlackBerry in a research note on Tuesday, June 28th. MKM Partners reaffirmed a hold rating on shares of BlackBerry in a research note on Sunday, June 26th. RBC Capital Markets reaffirmed a sector perform rating and set a $9.00 price objective on shares of BlackBerry in a research note on Wednesday, July 20th. Wells Fargo & Co. reiterated a market perform rating and set a $7.62 target price on shares of BlackBerry in a report on Monday, June 13th. Finally, Deutsche Bank AG reiterated a hold rating on shares of BlackBerry in a report on Monday, June 27th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $7.58.
Shares of BlackBerry Ltd. (NASDAQ:BBRY) opened at 7.88 on Wednesday. BlackBerry Ltd. has a 52 week low of $5.99 and a 52 week high of $9.46. The stock’s market capitalization is $4.12 billion. The company has a 50-day moving average price of $7.78 and a 200 day moving average price of $7.29.
BlackBerry (NASDAQ:BBRY) last released its quarterly earnings data on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. The firm had revenue of $352 million for the quarter, compared to analyst estimates of $393.75 million. BlackBerry had a negative return on equity of 4.49% and a negative net margin of 49.74%. The business’s revenue for the quarter was down 28.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.13) earnings per share. Analysts forecast that BlackBerry Ltd. will post ($0.15) earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in BBRY. Ameriprise Financial Inc. raised its stake in BlackBerry by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 33,078 shares of the smartphone producer’s stock valued at $222,000 after buying an additional 1,147 shares in the last quarter. Andra AP fonden raised its stake in BlackBerry by 2.5% in the second quarter. Andra AP fonden now owns 130,500 shares of the smartphone producer’s stock valued at $1,131,000 after buying an additional 3,200 shares in the last quarter. Clinton Group Inc. raised its stake in BlackBerry by 13.2% in the second quarter. Clinton Group Inc. now owns 54,992 shares of the smartphone producer’s stock valued at $369,000 after buying an additional 6,417 shares in the last quarter. Guggenheim Capital LLC raised its stake in BlackBerry by 6.5% in the second quarter. Guggenheim Capital LLC now owns 128,335 shares of the smartphone producer’s stock valued at $861,000 after buying an additional 7,786 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in BlackBerry by 37.5% in the second quarter. Cubist Systematic Strategies LLC now owns 35,900 shares of the smartphone producer’s stock valued at $241,000 after buying an additional 9,790 shares in the last quarter. Hedge funds and other institutional investors own 57.99% of the company’s stock.
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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