BlackBerry Downgraded to “Underperform” at Sanford C. Bernstein (BB)
BlackBerry (TSE:BB) was downgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Thursday, Stock Ratings Network.com reports. They currently have a C$4.35 target price on the stock, down from their previous target price of C$6.76. Sanford C. Bernstein’s price objective suggests a potential downside of 47.40% from the company’s current price.
A number of other analysts have also recently weighed in on BB. Analysts at Scotiabank cut their price target on shares of BlackBerry (TSE:BB) from C$11.90 to C$10.60 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at TD Securities cut their price target on shares of BlackBerry (TSE:BB) from C$11.50 to C$9.00 in a research note to investors on Tuesday, September 24th. They now have a “hold” rating on the stock. Finally, analysts at Robert W. Baird upgraded shares of BlackBerry (TSE:BB) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 24th. Ten analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have given a buy rating to the company. BlackBerry currently has a consensus rating of “Hold” and an average target price of C$8.64.
BlackBerry (TSE:BB) traded down 4.11% on Thursday, hitting $7.93. The stock had a trading volume of 1,565,869 shares. BlackBerry has a 52-week low of $7.99 and a 52-week high of $12.59. The stock has a 50-day moving average of $10.51 and a 200-day moving average of $13.07. The company’s market cap is $4.159 billion.
BlackBerry (TSE:BB) last released its earnings data on Friday, September 27th. The company reported ($1.84) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.49) by $1.35. During the same quarter last year, the company posted ($0.27) earnings per share. On average, analysts predict that BlackBerry will post $-1.08 earnings per share for the current fiscal year.
BlackBerry, formerly Research In Motion Limited, is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
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