Zacks Investment Research lowered shares of BlackBerry (NYSE:BB) from a buy rating to a hold rating in a report released on Friday.
According to Zacks, “Shares of BlackBerry outperformed its industry in 2017. Ushering in further good news, the company’s deal with Baidu on a self-driving car project pleased investors. BlackBerry’s decision to focus exclusively on software business seems to be paying off as robust software sales are aiding the company immensely. Growth of its cybersecurity business is also a huge positive. However, the unfavorable verdict in the Nokia case is disappointing. Charges pertaining to the issue may hurt the bottom line in the fiscal fourth quarter. Moreover, operating expenses are expected to be higher in the fiscal fourth quarter than the previous quarter. With increasing global exposure, BlackBerry does face the risk of adverse foreign exchange fluctuations.”
BB has been the topic of a number of other research reports. Scotiabank restated an outperform rating and issued a $13.50 price target on shares of BlackBerry in a research note on Thursday, September 21st. Royal Bank of Canada increased their price target on BlackBerry from $9.50 to $10.50 and gave the company a sector perform rating in a research note on Friday, September 29th. Vetr cut BlackBerry from a strong-buy rating to a buy rating and set a $10.20 price target on the stock. in a research note on Tuesday, September 26th. Bank of America increased their price target on BlackBerry from $7.50 to $8.00 and gave the company an underperform rating in a research note on Friday, September 22nd. Finally, Imperial Capital restated an in-line rating and issued a $11.00 price target (up previously from $10.00) on shares of BlackBerry in a research note on Friday, December 22nd. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $10.48.
BlackBerry (NYSE BB) traded up $0.20 during midday trading on Friday, hitting $13.65. The stock had a trading volume of 6,310,800 shares, compared to its average volume of 12,718,533. The firm has a market cap of $7,320.00, a P/E ratio of 20.68 and a beta of 1.09. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.33. BlackBerry has a 12 month low of $6.65 and a 12 month high of $14.55.
BlackBerry (NYSE:BB) last released its quarterly earnings data on Wednesday, December 20th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.49). BlackBerry had a net margin of 37.36% and a return on equity of 3.70%. The company had revenue of $235.00 million during the quarter, compared to analyst estimates of $216.70 million. During the same period in the previous year, the company posted $0.02 EPS. The company’s quarterly revenue was down 21.9% compared to the same quarter last year. equities analysts predict that BlackBerry will post -0.02 EPS for the current fiscal year.
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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