Shares of BlackBerry Limited (NYSE:BB) have been assigned a consensus recommendation of "Sell" from the seven research firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $10.67.
A number of equities analysts have recently weighed in on BB shares. Royal Bank of Canada reissued a "sell" rating and issued a $9.50 price objective on shares of BlackBerry in a research report on Friday, September 17th. TD Securities boosted their target price on shares of BlackBerry from $8.50 to $9.00 and gave the company a "reduce" rating in a report on Thursday, September 23rd. Raymond James restated a "market perform" rating and issued a $9.50 target price on shares of BlackBerry in a report on Thursday, September 23rd. Finally, Canaccord Genuity upgraded shares of BlackBerry from a "sell" rating to a "hold" rating and set a $10.00 target price for the company in a report on Wednesday, August 18th.
In other BlackBerry news, CMO Mark George Wilson sold 3,722 shares of the stock in a transaction on Friday, October 1st. The shares were sold at an average price of $9.40, for a total transaction of $34,986.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Thomas Eacobacci sold 171,300 shares of the stock in a transaction on Wednesday, October 6th. The stock was sold at an average price of $9.35, for a total transaction of $1,601,655.00. The disclosure for this sale can be found here. Insiders sold 240,531 shares of company stock valued at $2,290,238 over the last 90 days. Insiders own 1.60% of the company's stock.
Hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc. increased its holdings in shares of BlackBerry by 3.1% in the 1st quarter. TD Asset Management Inc. now owns 1,815,402 shares of the company's stock worth $15,224,000 after acquiring an additional 54,161 shares during the period. Eqis Capital Management Inc. grew its position in BlackBerry by 27.3% in the 2nd quarter. Eqis Capital Management Inc. now owns 67,093 shares of the company's stock valued at $820,000 after buying an additional 14,371 shares in the last quarter. Davy Global Fund Management Ltd bought a new position in shares of BlackBerry during the 2nd quarter valued at about $1,527,000. Creative Planning boosted its position in shares of BlackBerry by 15.8% during the 2nd quarter. Creative Planning now owns 15,413 shares of the company's stock valued at $188,000 after purchasing an additional 2,106 shares in the last quarter. Finally, Scotia Capital Inc. boosted its position in shares of BlackBerry by 20.2% during the 2nd quarter. Scotia Capital Inc. now owns 189,381 shares of the company's stock valued at $2,310,000 after purchasing an additional 31,783 shares in the last quarter. 36.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of BB opened at $10.80 on Friday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.49. The stock has a market cap of $6.12 billion, a P/E ratio of -11.49 and a beta of 1.23. The company has a 50-day moving average of $10.19 and a two-hundred day moving average of $10.44. BlackBerry has a 12-month low of $4.44 and a 12-month high of $28.77.
BlackBerry (NYSE:BB) last announced its earnings results on Tuesday, September 21st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The company had revenue of $175.00 million during the quarter, compared to analysts' expectations of $164.28 million. BlackBerry had a negative net margin of 61.56% and a positive return on equity of 1.02%. The firm's quarterly revenue was down 32.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share.
BlackBerry Company Profile
BlackBerry Ltd. engages in providing the intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, data privacy solutions, and also focuses in the areas of endpoint security, endpoint management, encryption, and embedded systems.
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