BlackBerry Rating Lowered to Market Perform at Cormark (BBRY)
BlackBerry (NASDAQ:BBRY) was downgraded by investment analysts at Cormark to a “market perform” rating in a note issued to investors on Tuesday, AR Network reports.
Shares of BlackBerry (NASDAQ:BBRY) traded down 2.38% on Tuesday, hitting $8.61. 21,490,260 shares of the company’s stock traded hands. BlackBerry has a one year low of $6.25 and a one year high of $18.32. The stock’s 50-day moving average is $10.28 and its 200-day moving average is $12.54. The company’s market cap is $4.438 billion. BlackBerry also saw unusually large options trading activity on Monday. Traders purchased 142,655 call options on the company. This represents an increase of 185% compared to the typical daily volume of 50,072 call options.
BlackBerry (NASDAQ:BBRY) last announced its earnings results 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. BlackBerry’s revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that BlackBerry will post $-0.68 earnings per share for the current fiscal year.
A number of other firms have also recently commented on BBRY. Analysts at National Bank Financial upgraded shares of BlackBerry (NASDAQ:BBRY) from an “underperform” rating to a “sector perform” rating in a research note to investors on Tuesday. They now have a $9.00 price target on the stock, up previously from $5.00. Separately, analysts at Cowen and Company raised their price target on shares of BlackBerry (NASDAQ:BBRY) from $8.00 to $9.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Finally, analysts at BNP Paribas upgraded shares of BlackBerry (NASDAQ:BBRY) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday.
Sixteen analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. BlackBerry currently has a consensus rating of “Hold” and a consensus price target of $9.29.
Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.
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