TD Securities Raises BlackBerry Limited (BBRY) Price Target to $12.00
BBRY has been the subject of several other reports. Wells Fargo & Company restated a market perform rating and issued a $9.00 price objective (up from $8.50) on shares of BlackBerry Limited in a research note on Monday, June 26th. Scotiabank restated an outperform rating and issued a $13.50 price objective on shares of BlackBerry Limited in a research note on Thursday, September 21st. Royal Bank Of Canada upped their price objective on BlackBerry Limited from $9.50 to $10.50 and gave the stock a sector perform rating in a research note on Friday, September 29th. Vetr upgraded BlackBerry Limited from a buy rating to a strong-buy rating and set a $12.74 price objective for the company in a research note on Monday, June 5th. Finally, Goldman Sachs Group, Inc. (The) restated a sell rating on shares of BlackBerry Limited in a research note on Sunday, August 13th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $9.71.
BlackBerry Limited (NASDAQ:BBRY) opened at 11.02 on Monday. The stock has a 50 day moving average price of $9.43 and a 200 day moving average price of $9.48. The stock has a market capitalization of $5.84 billion, a PE ratio of 11.40 and a beta of 1.00. BlackBerry Limited has a 12 month low of $6.65 and a 12 month high of $11.74.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $238.00 million during the quarter, compared to analyst estimates of $221.21 million. BlackBerry Limited had a return on equity of 2.70% and a net margin of 49.62%. BlackBerry Limited’s revenue for the quarter was down 32.4% compared to the same quarter last year. On average, equities research analysts forecast that BlackBerry Limited will post $0.06 earnings per share for the current fiscal year.
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BlackBerry Limited declared that its Board of Directors has approved a share buyback plan on Friday, June 23rd that allows the company to repurchase 31,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in shares of BlackBerry Limited by 35.5% in the 2nd quarter. SG Americas Securities LLC now owns 54,346 shares of the company’s stock valued at $543,000 after acquiring an additional 14,246 shares during the last quarter. CI Investments Inc. bought a new position in shares of BlackBerry Limited in the 2nd quarter valued at about $30,309,000. Bank of America Corp DE lifted its holdings in shares of BlackBerry Limited by 300.0% in the 1st quarter. Bank of America Corp DE now owns 754,290 shares of the company’s stock valued at $5,847,000 after acquiring an additional 565,739 shares during the last quarter. Quinn Opportunity Partners LLC lifted its holdings in shares of BlackBerry Limited by 24.8% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 785,735 shares of the company’s stock valued at $7,849,000 after acquiring an additional 156,350 shares during the last quarter. Finally, Tobam bought a new position in shares of BlackBerry Limited in the 2nd quarter valued at about $1,626,000. 63.32% of the stock is owned by hedge funds and other institutional investors.
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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