BlackBerry Ltd. (BBRY) Given Consensus Recommendation of “Hold” by Analysts
Shares of BlackBerry Ltd. (NASDAQ:BBRY) have earned a consensus rating of “Hold” from the twenty brokerages that are currently covering the stock. Two investment analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.01.
BBRY has been the subject of a number of research analyst reports. Wells Fargo & Co. reaffirmed a “positive” rating and issued a $7.62 target price on shares of BlackBerry in a report on Tuesday, August 30th. Zacks Investment Research raised shares of BlackBerry from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Monday, October 3rd. TD Securities reaffirmed a “buy” rating and issued a $9.00 target price on shares of BlackBerry in a report on Friday, September 23rd. Vetr raised shares of BlackBerry from a “buy” rating to a “strong-buy” rating and set a $8.59 target price for the company in a report on Tuesday. Finally, Royal Bank Of Canada increased their target price on shares of BlackBerry from $7.00 to $7.50 and gave the company a “sector perform” rating in a report on Thursday, September 29th.
BlackBerry (NASDAQ:BBRY) traded down 0.13% on Wednesday, reaching $7.66. The company had a trading volume of 10,220,601 shares. The stock has a 50 day moving average price of $7.73 and a 200 day moving average price of $7.29. The stock’s market capitalization is $4.01 billion. BlackBerry has a 52-week low of $6.23 and a 52-week high of $9.46.
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BlackBerry (NASDAQ:BBRY) last issued its earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. BlackBerry had a negative net margin of 78.41% and a negative return on equity of 3.36%. The company earned $352 million during the quarter. During the same period last year, the business posted ($0.13) earnings per share. The company’s quarterly revenue was down 28.2% on a year-over-year basis. Analysts expect that BlackBerry will post ($0.01) EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in BlackBerry during the second quarter worth about $32,778,000. Societe Generale purchased a new position in BlackBerry during the second quarter worth about $2,013,000. GMT Capital Corp purchased a new position in BlackBerry during the second quarter worth about $393,000. Greylin Investment Mangement Inc. raised its position in BlackBerry by 137.9% in the second quarter. Greylin Investment Mangement Inc. now owns 86,300 shares of the smartphone producer’s stock worth $579,000 after buying an additional 50,025 shares during the last quarter. Finally, Primecap Management Co. CA raised its position in BlackBerry by 1.8% in the first quarter. Primecap Management Co. CA now owns 76,097,907 shares of the smartphone producer’s stock worth $615,632,000 after buying an additional 1,371,800 shares during the last quarter. 57.93% of the stock is owned by hedge funds and other institutional investors.
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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