BlackBerry Rating Reiterated by Raymond James (BBRY)
BlackBerry (NASDAQ:BBRY)‘s stock had its “market perform” rating restated by research analysts at Raymond James in a report released on Wednesday, Analyst Ratings Network.com reports.
The analysts wrote, “Last night BBRY filed their 10-Q to provide more details on its F2Q14. The Fairfax consortium has offered an LOI to take BBRY private at $9/share. Shareholders no doubt are disappointed with the lack of a price premium. However, BBRY is quickly running out of options especially following the disastrous F2Q14 results. We note the Board (who has significantly more information than we do about the state of affairs at BBRY) has approved the $9 offer. Fairfax is expected to complete its due diligence by November 4. We are not expecting a higher offer and maintain our Market Perform rating.”
Several other analysts have also recently commented on the stock. Analysts at GMP Securities downgraded shares of BlackBerry (NASDAQ:BBRY) to a “reduce” rating in a research note to investors on Monday. Separately, 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, September 27th. Finally, 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. Thirteen equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $9.37.
Shares of BlackBerry (NASDAQ:BBRY) opened at 7.92 on Wednesday. BlackBerry has a one year low of $7.46 and a one year high of $18.32. The stock’s 50-day moving average is $10.00 and its 200-day moving average is $12.2. The company’s market cap is $4.155 billion.
BlackBerry (NASDAQ:BBRY) last released its earnings data on Friday, September 27th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the 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. The company’s revenue for the quarter was down 45.0% on a year-over-year basis. On average, analysts predict that BlackBerry will post $-1.17 earnings per share 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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