BlackBerry Price Target Lowered to $6.50 at FBR Capital Markets (BBRY)
Research analysts at FBR Capital Markets reduced their target price on shares of BlackBerry (NASDAQ:BBRY) from $8.00 to $6.50 in a report released on Friday, Analyst RN reports. The firm currently has an “underperform” rating on the stock. FBR Capital Markets’ price objective points to a potential downside of 17.98% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of BlackBerry in a research note to investors on Tuesday, October 8th. They now have a $8.25 price target on the stock. Separately, analysts at Macquarie upgraded shares of BlackBerry from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, October 7th. They now have a $7.00 price target on the stock. Finally, analysts at Sanford C. Bernstein downgraded shares of BlackBerry from a “market perform” rating to an “underperform” rating in a research note to investors on Thursday, October 3rd. They now have a $4.50 price target on the stock. Thirteen 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 assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $9.22.
BlackBerry (NASDAQ:BBRY) traded up 0.32% during mid-day trading on Friday, hitting $7.95. The stock had a trading volume of 4,204,582 shares. 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 $8.52 and a 200-day moving average of $11.26. The company’s market cap is $4.091 billion.
BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Friday, September 27th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters 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 quarterly revenue was down 45.0% on a year-over-year basis. On average, analysts predict that BlackBerry will post $-1.31 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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