Blackline Safety (TSE:BLN) Sets New 1-Year High - Here's Why

Key Points

• New 52-week high: Blackline Safety's stock reached C$9.04 on Wednesday and last traded at C$9.03 on volume of 38,576 shares.
• Mixed analyst sentiment: Brokerages have recently adjusted ratings (some downgraded), leaving a MarketBeat consensus of Hold with a consensus target price of C$9.23.
• Negative profitability despite solid liquidity: The company has a market cap of C$778.9M, reported C($0.03) EPS on C$38.85M revenue last quarter, a negative P/E of -74.58 and a negative net margin of 6.83%, while maintaining a current ratio of 2.02.

Blackline Safety Corp. (TSE:BLN - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as C$9.04 and last traded at C$9.03, with a volume of 38576 shares changing hands. The stock had previously closed at C$9.00.

Analyst Upgrades and Downgrades

Several brokerages have commented on BLN. Raymond James Financial lowered shares of Blackline Safety from an "outperform" rating to a "market perform" rating and dropped their price target for the company from C$10.00 to C$9.38 in a research note on Friday, April 10th. Ventum Financial lowered Blackline Safety from a "buy" rating to a "tender" rating and increased their price objective for the stock from C$8.25 to C$9.00 in a report on Thursday, April 9th. Finally, TD cut Blackline Safety from a "hold" rating to a "sell" rating and raised their target price for the company from C$8.00 to C$9.00 in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of C$9.23.

Blackline Safety Stock Down 0.6%

The stock has a market cap of C$778.86 million, a P/E ratio of -74.58 and a beta of 0.87. The company has a current ratio of 2.02, a quick ratio of 3.09 and a debt-to-equity ratio of 17.78. The stock's 50-day moving average is C$7.68 and its 200-day moving average is C$7.06.

Blackline Safety (TSE:BLN - Get Free Report) last issued 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 during the quarter. Blackline Safety had a negative return on equity of 13.41% and a negative net margin of 6.83%. As a group, research analysts anticipate 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.

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