BlackBerry Limited (BBRY) Receives Average Rating of “Hold” from Analysts
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) has been given a consensus rating of “Hold” by the twenty-one ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.53.
Several research analysts have recently issued reports on BBRY shares. TheStreet upgraded BlackBerry Limited from a “d” rating to a “b-” rating in a research report on Friday, June 23rd. Vetr lowered BlackBerry Limited from a “strong-buy” rating to a “buy” rating and set a $11.74 target price on the stock. in a report on Wednesday, May 31st. Zacks Investment Research upgraded BlackBerry Limited from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, June 28th. Morgan Stanley reduced their target price on BlackBerry Limited from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $9.50 target price on shares of BlackBerry Limited in a report on Thursday, June 15th.
Large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its position in BlackBerry Limited by 18.6% during the second quarter. Creative Planning now owns 12,122 shares of the company’s stock worth $121,000 after buying an additional 1,900 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management acquired a new position in BlackBerry Limited during the second quarter worth approximately $123,000. American Asset Management Inc. acquired a new position in BlackBerry Limited during the second quarter worth approximately $123,000. Capital Investment Counsel Inc acquired a new position in BlackBerry Limited during the first quarter worth approximately $126,000. Finally, Private Advisor Group LLC acquired a new position in BlackBerry Limited during the second quarter worth approximately $138,000. 63.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of BlackBerry Limited (BBRY) remained flat at $9.27 during midday trading on Friday. 2,952,449 shares of the company’s stock traded hands. The company has a 50 day moving average price of $9.07 and a 200-day moving average price of $9.17. BlackBerry Limited has a 1-year low of $6.65 and a 1-year high of $11.74. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 38.15 and a beta of 0.99.
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, hitting the Thomson Reuters’ consensus estimate of $0.02. BlackBerry Limited had a negative return on equity of 1.67% and a net margin of 11.68%. The business had revenue of $244.00 million for the quarter, compared to analyst estimates of $262.80 million. BlackBerry Limited’s quarterly revenue was down 42.5% compared to the same quarter last year. On average, equities research analysts expect that BlackBerry Limited will post $0.04 EPS for the current fiscal year.
BlackBerry Limited announced that its board has initiated a share repurchase plan on Friday, June 23rd that authorizes the company to repurchase 31,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
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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