FY2018 EPS Estimates for BlackBerry Limited Lifted by Analyst (BBRY)
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) – Investment analysts at Imperial Capital upped their FY2018 earnings estimates for BlackBerry Limited in a research note issued to investors on Monday. Imperial Capital analyst M. Kim now forecasts that the company will earn ($0.04) per share for the year, up from their previous forecast of ($0.09). Imperial Capital has a “In-Line” rating and a $8.25 price objective on the stock. Imperial Capital also issued estimates for BlackBerry Limited’s Q4 2018 earnings at ($0.02) EPS and FY2019 earnings at ($0.07) EPS.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last issued its quarterly earnings data on Thursday, September 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.06. The business had revenue of $238.00 million during the quarter, compared to analysts’ expectations of $221.21 million. BlackBerry Limited had a return on equity of 2.70% and a net margin of 49.62%. The company’s revenue for the quarter was down 32.4% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/05/fy2018-eps-estimates-for-blackberry-limited-lifted-by-analyst-bbry.html.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of BlackBerry Limited from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Canaccord Genuity reiterated a “hold” rating and set a $10.00 target price on shares of BlackBerry Limited in a research note on Monday. TD Securities increased their target price on shares of BlackBerry Limited from $11.50 to $12.00 and gave the stock a “buy” rating in a research note on Monday. Vetr downgraded shares of BlackBerry Limited from a “buy” rating to a “hold” rating and set a $10.20 target price for the company. in a research note on Monday. Finally, BMO Capital Markets reiterated a “hold” rating and set a $10.00 target price on shares of BlackBerry Limited in a research note on Friday, September 29th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. BlackBerry Limited presently has an average rating of “Hold” and a consensus target price of $9.71.
Shares of BlackBerry Limited (NASDAQ BBRY) traded down 0.09% during trading on Thursday, hitting $11.07. The stock had a trading volume of 2,427,012 shares. The stock’s 50-day moving average is $9.37 and its 200-day moving average is $9.47. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 11.45 and a beta of 1.00. BlackBerry Limited has a 12-month low of $6.65 and a 12-month high of $11.74.
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its stake in BlackBerry Limited by 35.5% in the 2nd quarter. SG Americas Securities LLC now owns 54,346 shares of the company’s stock worth $543,000 after acquiring an additional 14,246 shares during the period. CI Investments Inc. purchased a new stake in BlackBerry Limited in the 2nd quarter worth approximately $30,309,000. Bank of America Corp DE grew its stake in BlackBerry Limited by 300.0% in the 1st quarter. Bank of America Corp DE now owns 754,290 shares of the company’s stock worth $5,847,000 after acquiring an additional 565,739 shares during the period. Quinn Opportunity Partners LLC grew its stake in BlackBerry Limited by 24.8% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 785,735 shares of the company’s stock worth $7,849,000 after acquiring an additional 156,350 shares during the period. Finally, Tobam purchased a new stake in BlackBerry Limited in the 2nd quarter worth approximately $1,626,000. 63.32% of the stock is owned by hedge funds and other institutional investors.
BlackBerry Limited declared that its Board of Directors has authorized a share buyback plan on Friday, June 23rd that authorizes the company to repurchase 31,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
About BlackBerry Limited
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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