Somewhat Positive Press Coverage Somewhat Unlikely to Affect BlackBerry Limited (BBRY) Stock Price
Press coverage about BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) has been trending somewhat positive recently, according to Accern. The research firm identifies positive and negative media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. BlackBerry Limited earned a news sentiment score of 0.11 on Accern’s scale. Accern also gave media stories about the company an impact score of 45.4900233290853 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the media stories that may have impacted Accern Sentiment Analysis’s rankings:
- Short Interest in BlackBerry Limited (BBRY) Decreases By 3.5% (americanbankingnews.com)
- BlackBerry Limited (NASDAQ:BBRY) Traded Under Its 50 Day Moving Average (vothemes.com)
- BlackBerry Limited (NASDAQ:BBRY) Closed -9.1% Below Its 50 Day Average (newstrendstoday.com)
- $225.50 Million in Sales Expected for BlackBerry Limited (BBRY) This Quarter (americanbankingnews.com)
- Koch Stock Buys: Cisco, BlackBerry, Qualcomm – Barron’s (barrons.com)
Several analysts have weighed in on BBRY shares. Vetr downgraded BlackBerry Limited from a “strong-buy” rating to a “buy” rating and set a $12.19 price objective for the company. in a research report on Monday, May 22nd. Raymond James Financial, Inc. downgraded BlackBerry Limited from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $9.50 to $11.00 in a research report on Monday, May 29th. Credit Suisse Group reiterated an “underperform” rating and issued a $8.00 price objective on shares of BlackBerry Limited in a research report on Tuesday, June 6th. Imperial Capital boosted their price objective on BlackBerry Limited from $8.25 to $10.00 and gave the company an “in-line” rating in a research report on Thursday, June 15th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $9.50 price objective on shares of BlackBerry Limited in a research report on Thursday, June 15th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have 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 $9.47.
BlackBerry Limited (BBRY) remained flat at $8.99 during midday trading on Monday. The company’s stock had a trading volume of 2,228,112 shares. The stock has a market cap of $4.77 billion, a P/E ratio of 37.00 and a beta of 0.97. The company has a 50-day moving average price of $9.42 and a 200 day moving average price of $8.99. BlackBerry Limited has a 1-year low of $6.65 and a 1-year high of $11.74.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last posted its quarterly earnings results on Friday, June 23rd. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.02. BlackBerry Limited had a net margin of 11.68% and a negative return on equity of 1.67%. The company had revenue of $244 million during the quarter, compared to the consensus estimate of $262.80 million. BlackBerry Limited’s revenue was down 42.5% on a year-over-year basis. On average, equities analysts predict that BlackBerry Limited will post $0.04 EPS for the current year.
BlackBerry Limited declared that its Board of Directors has authorized a share buyback program on Friday, June 23rd that allows the company to buyback 31,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
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BlackBerry Limited 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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