Blackline Safety (TSE:BLN) Sets New 52-Week High - Here's Why

Key Points

• Blackline Safety hit a new 52-week high, trading as high as C$8.97 and last at C$8.94 on a volume of 533,793 shares.
• Analyst coverage is mixed — two Buys, two Holds and one Sell — resulting in an average rating of Hold and an average price target of C$9.23.
• The company has a market cap of C$778.86M and reported C$38.85M in quarterly revenue but posted a negative EPS (C$0.03 loss) and negative net margin, with analysts forecasting about -0.05 EPS for the year.

Blackline Safety Corp. (TSE:BLN - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$8.97 and last traded at C$8.94, with a volume of 533793 shares. The stock had previously closed at C$8.91.

Wall Street Analysts Forecast Growth

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

Blackline Safety Stock Performance

The stock has a fifty day simple moving average of C$7.26 and a 200-day simple moving average of C$6.96. The stock has a market cap of C$778.86 million, a P/E ratio of -74.58 and a beta of 0.82. The company has a debt-to-equity ratio of 17.78, a quick ratio of 3.09 and a current ratio of 2.02.

Blackline Safety (TSE:BLN - Get Free Report) last released its earnings results on Thursday, March 12th. The company reported C($0.03) earnings per share (EPS) for the quarter. The firm had revenue of C$38.85 million for the quarter. Blackline Safety had a negative return on equity of 13.41% and a negative net margin of 6.83%. On average, equities analysts expect that Blackline Safety Corp. will post -0.05 earnings per share for the current year.

About Blackline Safety

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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