BlackBerry Ltd (NYSE:BB) Receives Consensus Rating of “Hold” from Brokerages

BlackBerry Ltd (NYSE:BB) has been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $10.67.

Several equities research analysts have recently commented on the company. TD Securities increased their price objective on BlackBerry from $14.00 to $14.50 and gave the company a “buy” rating in a report on Monday, April 1st. Raymond James set a $11.00 price objective on BlackBerry and gave the company a “market perform” rating in a research note on Monday, April 1st. CIBC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of BlackBerry in a research note on Friday, March 29th. TheStreet raised BlackBerry from a “d+” rating to a “c-” rating in a research note on Wednesday, March 13th. Finally, Morgan Stanley began coverage on BlackBerry in a research note on Friday, March 22nd. They issued a “weight” rating on the stock.

BB stock traded down $0.20 on Wednesday, reaching $7.05. 230,268 shares of the company traded hands, compared to its average volume of 4,237,771. BlackBerry has a one year low of $6.57 and a one year high of $12.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.45 and a current ratio of 2.45. The company has a market cap of $3.97 billion, a P/E ratio of 54.31 and a beta of 1.81. The firm’s fifty day simple moving average is $8.00.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.04. BlackBerry had a return on equity of 1.84% and a net margin of 12.58%. The company had revenue of $267.00 million during the quarter, compared to analyst estimates of $264.55 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, sell-side analysts forecast that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. First Allied Advisory Services Inc. boosted its stake in shares of BlackBerry by 6.0% during the fourth quarter. First Allied Advisory Services Inc. now owns 20,215 shares of the company’s stock valued at $144,000 after purchasing an additional 1,150 shares in the last quarter. Shell Asset Management Co. lifted its stake in shares of BlackBerry by 2.6% in the first quarter. Shell Asset Management Co. now owns 46,492 shares of the company’s stock worth $469,000 after acquiring an additional 1,200 shares during the period. State of Tennessee Treasury Department lifted its stake in shares of BlackBerry by 0.4% in the fourth quarter. State of Tennessee Treasury Department now owns 381,265 shares of the company’s stock worth $2,712,000 after acquiring an additional 1,378 shares during the period. Korea Investment CORP lifted its stake in shares of BlackBerry by 4.1% in the fourth quarter. Korea Investment CORP now owns 35,858 shares of the company’s stock worth $255,000 after acquiring an additional 1,407 shares during the period. Finally, Cetera Advisors LLC lifted its stake in shares of BlackBerry by 7.9% in the first quarter. Cetera Advisors LLC now owns 27,051 shares of the company’s stock worth $273,000 after acquiring an additional 1,980 shares during the period. 50.62% of the stock is currently owned by hedge funds and other institutional investors.

About BlackBerry

BlackBerry Limited provides enterprise software and services worldwide. The company offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.

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