Ventum Financial Downgrades Blackline Safety (TSE:BLN) to Tender

Key Points

• Ventum Financial downgraded Blackline Safety from "buy" to "tender" and set a C$9.00 price objective (up from C$8.25), which implies only about a 0.9% upside from the prior close.
• The stock was trading around C$8.92 with heavy intraday volume (1,162,416 shares versus a ~131,391 average), while the consensus rating remains a "Moderate Buy" with a consensus target of C$9.25 and RBC issuing an "outperform" at C$9.00.
• Fundamentals show negative EPS (C($0.03) last quarter), a negative net margin and ROE, a negative PE of -74.33, and analysts expect about C($0.05) EPS for the current fiscal year.

Blackline Safety (TSE:BLN - Get Free Report) was downgraded by investment analysts at Ventum Financial from a "buy" rating to a "tender" rating in a report issued on Thursday,BayStreet.CA reports. They currently have a C$9.00 price objective on the stock, up from their prior price objective of C$8.25. Ventum Financial's target price would suggest a potential upside of 0.90% from the company's previous close.

Separately, Royal Bank Of Canada set a C$9.00 price objective on Blackline Safety and gave the stock an "outperform" rating in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$9.25.

Blackline Safety Trading Down 0.1%

Shares of Blackline Safety stock traded down C$0.01 during midday trading on Thursday, reaching C$8.92. 1,162,416 shares of the company's stock traded hands, compared to its average volume of 131,391. The stock has a 50 day moving average of C$6.76 and a 200-day moving average of C$6.86. The company has a debt-to-equity ratio of 17.78, a quick ratio of 3.09 and a current ratio of 2.02. The company has a market cap of C$776.25 million, a PE ratio of -74.33 and a beta of 0.82. Blackline Safety has a 12 month low of C$5.90 and a 12 month high of C$9.00.

Blackline Safety (TSE:BLN - Get Free Report) last posted its quarterly earnings data 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 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, equities analysts expect that Blackline Safety will post -0.05 EPS 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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