Blackline Safety (TSE:BLN) Reaches New 1-Year High – Here’s What Happened

Shares of Blackline Safety Corp. (TSE:BLN) hit a new 52-week high during trading on Wednesday . The company traded as high as C$9.07 and last traded at C$9.06, with a volume of 17265 shares changing hands. The stock had previously closed at C$9.05.

Analyst Ratings Changes

Several research analysts have recently weighed in on BLN shares. Raymond James Financial cut shares of Blackline Safety from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from C$10.00 to C$9.38 in a research note on Friday, April 10th. Royal Bank Of Canada cut Blackline Safety from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from C$9.00 to C$9.25 in a report on Friday, May 22nd. Ventum Financial downgraded Blackline Safety from a “buy” rating to a “tender” rating and lifted their target price for the company from C$8.25 to C$9.00 in a research report on Thursday, April 9th. Finally, TD lowered Blackline Safety from a “hold” rating to a “sell” rating and boosted their price target for the company from C$8.00 to C$9.00 in a report on Monday, April 13th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Blackline Safety has an average rating of “Hold” and an average price target of C$9.27.

Blackline Safety Stock Performance

The company has a current ratio of 1.89, a quick ratio of 3.09 and a debt-to-equity ratio of 17.76. The company has a market cap of C$792.19 million, a P/E ratio of -82.36 and a beta of 0.99. The business’s 50 day simple moving average is C$8.98 and its 200 day simple moving average is C$7.54.

Blackline Safety (TSE:BLN) last posted its quarterly earnings results on Wednesday, June 10th. The company reported C($0.04) earnings per share for the quarter. The firm had revenue of C$44.29 million during the quarter. Blackline Safety had a negative return on equity of 13.09% and a negative net margin of 6.11%. Sell-side analysts predict that Blackline Safety Corp. will post -0.05 earnings per share for the current fiscal year.

Blackline Safety Company Profile

Blackline Safety Corp is a connected safety monitoring technology company. It provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations with coverage in more than 100 countries. Blackline Safety wearables provide a lifeline to tens of thousands of people, having reported over 161 billion data-points and initiated over five million emergency responses. Armed with cellular and satellite connectivity, the company ensure that help is never too far away.