GMP Securities Downgrades BlackBerry to Reduce (BBRY)
BlackBerry (NASDAQ:BBRY) was downgraded by stock analysts at GMP Securities to a “reduce” rating in a report issued on Monday, American Banking and Market News reports.
BlackBerry (NASDAQ:BBRY) traded down 0.37% during mid-day trading on Monday, hitting $8.00. The stock had a trading volume of 4,575,668 shares. BlackBerry has a 52 week low of $7.27 and a 52 week high of $18.32. The stock’s 50-day moving average is $10.14 and its 200-day moving average is $12.39. The company’s market cap is $4.197 billion.
BlackBerry (NASDAQ:BBRY) last released its earnings data on Friday, September 27th. The company reported ($0.47) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.15) by $0.32. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.63 billion. BlackBerry’s revenue was down 45.0% compared to the same quarter last year. On average, analysts predict that BlackBerry will post $-1.13 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BBRY. Analysts at Societe Generale downgraded shares of BlackBerry (NASDAQ:BBRY) from a “hold” rating to a “sell” rating in a research note to investors on Friday. Separately, analysts at Sanford C. Bernstein upgraded shares of BlackBerry (NASDAQ:BBRY) from an “underperform” rating to a “market perform” rating in a research note to investors on Wednesday, September 25th. They now have a $7.00 price target on the stock. Finally, analysts at TD Securities cut their price target on shares of BlackBerry (NASDAQ:BBRY) to $9.00 in a research note to investors on Tuesday, September 24th. Thirteen equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.45.
Research In Motion Limited is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market.
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