Shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) have earned a consensus recommendation of “Hold” from the twenty-two brokerages that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.49.

BBRY has been the topic of several research analyst reports. Royal Bank Of Canada set a $10.00 price target on shares of BlackBerry Limited and gave the company a “hold” rating in a report on Wednesday, August 9th. Credit Suisse Group restated an “underperform” rating and set a $8.00 price target on shares of BlackBerry Limited in a report on Wednesday, June 21st. Morgan Stanley lowered their price target on shares of BlackBerry Limited from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. Imperial Capital boosted their price target on shares of BlackBerry Limited from $8.25 to $10.00 and gave the company an “in-line” rating in a report on Thursday, June 15th. Finally, Bank of America Corporation boosted their price target on shares of BlackBerry Limited from $7.50 to $8.00 and gave the company an “underperform” rating in a report on Friday, September 22nd.

Shares of BlackBerry Limited (NASDAQ BBRY) traded up 0.88% on Thursday, hitting $11.49. The company had a trading volume of 4,776,536 shares. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 11.88 and a beta of 1.00. BlackBerry Limited has a 12-month low of $6.65 and a 12-month high of $11.74. The company has a 50 day moving average of $9.73 and a 200-day moving average of $9.62.

BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. BlackBerry Limited had a net margin of 49.62% and a return on equity of 2.70%. The business had revenue of $238.00 million for the quarter, compared to analysts’ expectations of $221.21 million. The firm’s quarterly revenue was down 32.4% on a year-over-year basis. On average, analysts forecast that BlackBerry Limited will post $0.06 earnings per share for the current year.

BlackBerry Limited declared that its board has initiated a stock repurchase program on Friday, June 23rd that authorizes the company to buyback 31,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of BlackBerry Limited by 9.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,390,521 shares of the company’s stock worth $113,792,000 after purchasing an additional 962,449 shares during the period. CIBC World Markets Inc. increased its holdings in shares of BlackBerry Limited by 6.5% during the 2nd quarter. CIBC World Markets Inc. now owns 6,097,343 shares of the company’s stock worth $60,912,000 after purchasing an additional 373,691 shares during the period. TD Asset Management Inc. increased its holdings in shares of BlackBerry Limited by 2.2% during the 2nd quarter. TD Asset Management Inc. now owns 4,086,249 shares of the company’s stock worth $40,777,000 after purchasing an additional 87,970 shares during the period. FMR LLC increased its holdings in shares of BlackBerry Limited by 1,413.1% during the 2nd quarter. FMR LLC now owns 3,469,494 shares of the company’s stock worth $34,673,000 after purchasing an additional 3,240,200 shares during the period. Finally, Contour Asset Management LLC bought a new position in shares of BlackBerry Limited during the 2nd quarter worth about $34,244,000. Institutional investors own 63.39% of the company’s stock.

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BlackBerry Limited Company Profile

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.

Analyst Recommendations for BlackBerry Limited (NASDAQ:BBRY)

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