BlackBerry Stock Rating Lowered by Charter Equity (BBRY)
BlackBerry (NASDAQ:BBRY) was downgraded by analysts at Charter Equity from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Friday, Analyst Ratings.Net reports.
BlackBerry (NASDAQ:BBRY) traded down 2.57% on Friday, hitting $10.25. 7,623,139 shares of the company’s stock traded hands. BlackBerry has a 1-year low of $6.22 and a 1-year high of $18.32. The stock’s 50-day moving average is $10.29 and its 200-day moving average is $12.60. The company’s market cap is $5.283 billion. BlackBerry also was the recipient of some unusual options trading activity on Thursday. Stock investors bought 47,042 put options on the stock. This is an increase of 118% compared to the average daily volume of 21,614 put options.
BlackBerry (NASDAQ:BBRY) last issued its quarterly earnings data on Friday, June 28th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.17. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $2.81 billion. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts expect that BlackBerry will post $-0.66 EPS for the current fiscal year.
A number of other firms have also recently commented on BBRY. Analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of BlackBerry (NASDAQ:BBRY) in a research note to investors on Wednesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of BlackBerry (NASDAQ:BBRY) in a research note to investors on Thursday, September 5th. They now have a $11.00 price target on the stock. Finally, analysts at Canaccord Genuity cut their EPS estimates on shares of BlackBerry (NASDAQ:BBRY) in a research note on Thursday. They now have a “sell” rating on the stock.
Nineteen analysts have rated the stock with a sell rating, eighteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. BlackBerry currently has an average rating of “Hold” and an average price target of $11.09.
Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.
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