BlackBerry (BB) PT Raised to $11.00 at Royal Bank of Canada

BlackBerry (NYSE:BB) had its target price boosted by research analysts at Royal Bank of Canada from $10.50 to $11.00 in a research report issued to clients and investors on Thursday. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential downside of 8.18% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity reaffirmed a “hold” rating and set a $11.00 price target on shares of BlackBerry in a report on Thursday. BMO Capital Markets reissued a “hold” rating and issued a $12.00 target price on shares of BlackBerry in a research note on Thursday. Vetr cut BlackBerry from a “buy” rating to a “hold” rating and set a $10.20 target price for the company. in a research note on Monday, October 2nd. BidaskClub cut BlackBerry from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Finally, TD Securities reissued a “buy” rating and issued a $11.50 target price on shares of BlackBerry in a research note on Tuesday, September 26th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. BlackBerry has a consensus rating of “Hold” and an average target price of $9.99.

Shares of BlackBerry (NYSE BB) traded down $0.19 on Thursday, hitting $11.98. The stock had a trading volume of 6,982,199 shares, compared to its average volume of 6,193,867. BlackBerry has a fifty-two week low of $6.65 and a fifty-two week high of $12.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.17 and a current ratio of 5.19. The firm has a market cap of $5,761.10, a PE ratio of 543.50 and a beta of 1.09.

BlackBerry (NYSE:BB) last issued its earnings results on Wednesday, December 20th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.49). BlackBerry had a return on equity of 2.70% and a net margin of 49.62%. The company had revenue of $235.00 million during the quarter, compared to analyst estimates of $216.70 million. During the same period in the previous year, the company posted $0.02 earnings per share. The company’s quarterly revenue was down 21.9% on a year-over-year basis. analysts anticipate that BlackBerry will post -0.04 earnings per share for the current fiscal year.

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About BlackBerry

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.