BlackBerry Rating Reiterated by Macquarie (BBRY)
BlackBerry (NASDAQ:BBRY)‘s stock had its “underperform” rating restated by research analysts at Macquarie in a report released on Monday, American Banking News reports. They currently have a $7.00 target price on the stock, down from their previous target price of $9.00. Macquarie’s price objective points to a potential downside of 19.77% from the company’s current price.
A number of other firms have also recently commented on BBRY. Analysts at Robert W. Baird upgraded shares of BlackBerry (NASDAQ:BBRY) from an “underperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $8.00 price target on the stock, down previously from $9.00. Separately, analysts at RBC Capital downgraded shares of BlackBerry (NASDAQ:BBRY) from a “sector perform” rating to an “underperform” rating in a research note to investors on Monday. Finally, analysts at Credit Suisse upgraded shares of BlackBerry (NASDAQ:BBRY) from an “underperform” rating to a “neutral” rating in a research note to investors on Monday.
Nineteen equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.89.
BlackBerry (NASDAQ:BBRY) opened at 8.725 on Monday. BlackBerry has a one year low of $6.22 and a one year high of $18.32. The stock has a 50-day moving average of $10.29 and a 200-day moving average of $12.58. The company’s market cap is $4.497 billion. BlackBerry also saw some unusual options trading on Friday. Traders acquired 113,542 put options on the company. This is an increase of approximately 337% compared to the typical daily volume of 25,984 put options.
BlackBerry (NASDAQ:BBRY) last announced its earnings results on Friday, June 28th. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters 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 $-0.68 EPS for the current fiscal year.
Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.
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