BlackBerry (BBRY) Releases Quarterly Earnings, Misses Expectations By $0.74 EPS
BlackBerry (NASDAQ:BBRY) posted its quarterly earnings results on Thursday. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.63 by $0.74, American Banking News.com reports. The company had revenue of $966.00 million for the quarter, compared to the consensus estimate of $976.25 million.
Several analysts have recently commented on the stock. Analysts at BGC Financial upgraded shares of BlackBerry from a “sell” rating to a “buy” rating in a research note on Wednesday. They now have a $15.00 price target on the stock, up previously from $8.00. On the ratings front, analysts at Morgan Stanley initiated coverage on shares of BlackBerry in a research note on Wednesday. They set an “equal weight” rating on the stock. Finally, analysts at Cowen and Company reiterated a “neutral” rating on shares of BlackBerry in a research note on Wednesday. Eleven investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $8.70.
BlackBerry (NASDAQ:BBRY) opened at 8.29 on Thursday. BlackBerry has a 1-year low of $5.44 and a 1-year high of $15.09. The stock has a 50-day moving average of $7.6 and a 200-day moving average of $8.21. The company’s market cap is $4.302 billion.
BlackBerry Limited, formerly Research In Motion Limited is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
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