Blackline Safety (TSE:BLN) Downgraded to "Market Perform" Rating by Raymond James Financial

Key Points

• Raymond James downgraded Blackline Safety from "outperform" to "market perform" and cut its price target to C$9.38 (from C$10.00), implying about a 5.16% upside from the current share price.
• Shares traded at C$8.92 mid-day on heavy volume (1.206M vs. avg 158,883), the company is unprofitable (latest quarter EPS C($0.03), negative net margin and ROE) and has a market cap of C$776.25 million with a 12‑month range of C$5.90–C$9.00.
• Analyst sentiment is mixed—two Buys and two Holds—giving a MarketBeat consensus of "Moderate Buy" and an average target of C$9.28, while firms like RBC remain positive and others (Ventum) have downgraded recommendations.

Blackline Safety (TSE:BLN - Get Free Report) was downgraded by stock analysts at Raymond James Financial from an "outperform" rating to a "market perform" rating in a report released on Friday,BayStreet.CA reports. They currently have a C$9.38 target price on the stock, down from their prior target price of C$10.00. Raymond James Financial's price objective indicates a potential upside of 5.16% from the stock's current price.

BLN has been the topic of a number of other research reports. Royal Bank Of Canada set a C$9.00 price objective on shares of Blackline Safety and gave the stock an "outperform" rating in a research note on Thursday, December 18th. Ventum Financial cut Blackline Safety from a "buy" rating to a "tender" rating and raised their target price for the company from C$8.25 to C$9.00 in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$9.28.

Blackline Safety Trading Down 0.3%

Shares of BLN traded down C$0.03 during mid-day trading on Friday, reaching C$8.92. 1,206,032 shares of the company's stock traded hands, compared to its average volume of 158,883. Blackline Safety has a 12 month low of C$5.90 and a 12 month high of C$9.00. The company has a debt-to-equity ratio of 17.78, a current ratio of 2.02 and a quick ratio of 3.09. The stock has a market cap of C$776.25 million, a P/E ratio of -74.33 and a beta of 0.82. The stock's 50-day moving average is C$6.81 and its two-hundred day moving average is C$6.87.

Blackline Safety (TSE:BLN - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The company reported C($0.03) earnings per share for the quarter. The company had revenue of C$38.85 million for the quarter. Blackline Safety had a negative net margin of 6.83% and a negative return on equity of 13.41%. Research analysts forecast that Blackline Safety 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.

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