BlackBerry Limited (BB) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of BlackBerry Limited (NYSE:BB) from a buy rating to a hold rating in a report published on Monday.
According to Zacks, “BlackBerry Limited is involved in the design, manufacture and marketing of wireless solutions for the mobile communications market. Its integrated hardware, software and services provide platforms and solutions for seamless access to information which includes e-mail, voice, instant messaging, short message service, Internet and intranet-based applications and browsing. The company operates in North America, Europe, Asia Pacific and Latin America. BlackBerry Limited, formerly known as Research In Motion Limited, is headquartered in Waterloo, Canada. “
BB has been the subject of a number of other reports. Vetr cut shares of BlackBerry Limited from a strong-buy rating to a buy rating and set a $10.20 price objective for the company. in a research report on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) reiterated a sell rating on shares of BlackBerry Limited in a research report on Sunday, August 13th. BMO Capital Markets reissued a hold rating and issued a $10.00 price objective on shares of BlackBerry Limited in a report on Friday, September 29th. Canaccord Genuity reissued a hold rating and issued a $10.00 price objective on shares of BlackBerry Limited in a report on Monday, October 2nd. Finally, TD Securities reissued a buy rating and issued a $11.50 price objective on shares of BlackBerry Limited in a report on Tuesday, September 26th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $9.70.
BlackBerry Limited (BB) opened at $10.33 on Monday. BlackBerry Limited has a 52 week low of $6.65 and a 52 week high of $11.78. The company has a current ratio of 5.19, a quick ratio of 5.17 and a debt-to-equity ratio of 0.27. The company has a market cap of $5,516.27, a PE ratio of 520.00 and a beta of 1.04.
BlackBerry Limited (NYSE:BB) last announced its quarterly earnings data on Thursday, September 28th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $238.00 million during the quarter, compared to analyst estimates of $221.21 million. BlackBerry Limited had a net margin of 49.62% and a return on equity of 2.70%. The business’s revenue was down 32.4% compared to the same quarter last year. analysts predict that BlackBerry Limited will post -0.04 earnings per share for the current year.
About BlackBerry Limited
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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