TD Downgrades Blackline Safety (TSE:BLN) to Sell

Key Points

• TD downgraded Blackline Safety (TSE:BLN) from "hold" to "sell" and set a C$9.00 price target, implying roughly a 0.9% upside from the stock's current level.
• Analyst views are mixed — two Buy, two Hold and one Sell — leaving a consensus rating of "Hold" with a consensus target of C$9.23.
• Shares traded at C$8.92 (near a C$9.00 52‑week high); the company posted a quarterly loss (EPS -C$0.03), has negative net margin and ROE, and analysts forecast about -C$0.05 EPS for the year.

Blackline Safety (TSE:BLN - Get Free Report) was downgraded by equities researchers at TD from a "hold" rating to a "sell" rating in a research note issued to investors on Monday,BayStreet.CA reports. They presently have a C$9.00 price target on the stock, up from their previous price target of C$8.00. TD's price target indicates a potential upside of 0.90% from the stock's current price.

Several other research firms have also recently weighed in on BLN. Raymond James Financial cut shares of Blackline Safety from an "outperform" rating to a "market perform" rating and reduced their target price for the company from C$10.00 to C$9.38 in a research note on Friday. Ventum Financial cut shares of Blackline Safety from a "buy" rating to a "tender" rating and increased their target price for the company from C$8.25 to C$9.00 in a research note on Thursday. Finally, Royal Bank Of Canada set a C$9.00 target price on shares of Blackline Safety and gave the company an "outperform" rating in a research note on Thursday, December 18th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of C$9.23.

Blackline Safety Stock Performance

Shares of TSE:BLN traded down C$0.03 during midday trading on Monday, hitting C$8.92. The company's stock had a trading volume of 308,319 shares, compared to its average volume of 167,694. The stock has a market capitalization of C$776.25 million, a price-to-earnings ratio of -74.33 and a beta of 0.82. The stock's 50 day simple moving average is C$6.87 and its 200 day simple moving average is C$6.88. Blackline Safety has a fifty-two week low of C$5.90 and a fifty-two week high of C$9.00. 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 issued its quarterly earnings results on Thursday, March 12th. The company reported C($0.03) earnings per share (EPS) for the quarter. The business had revenue of C$38.85 million during the quarter. Blackline Safety had a negative net margin of 6.83% and a negative return on equity of 13.41%. As a group, research analysts anticipate that Blackline Safety 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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