BlackBerry (NYSE:BB) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

BlackBerry (NYSE:BB) issued its quarterly earnings data on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02, Zacks reports. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The business had revenue of $145.00 million during the quarter, compared to analyst estimates of $138.82 million. During the same quarter last year, the business earned ($0.06) EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis.

BlackBerry Trading Up 6.5 %

Shares of BlackBerry stock opened at $2.55 on Friday. The company has a market capitalization of $1.50 billion, a P/E ratio of -8.78 and a beta of 1.39. The stock has a fifty day simple moving average of $2.35 and a 200 day simple moving average of $2.60. BlackBerry has a 12-month low of $2.01 and a 12-month high of $4.94. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.26.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BB. CIBC upgraded shares of BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 price target for the company in a report on Thursday, June 27th. Raymond James dropped their target price on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating on the stock in a report on Friday, June 28th. Robert W. Baird cut their price target on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Canaccord Genuity Group lowered their price objective on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research report on Thursday, June 27th. Finally, TD Securities dropped their price objective on BlackBerry from $3.00 to $2.75 and set a “hold” rating on the stock in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BlackBerry presently has a consensus rating of “Hold” and a consensus target price of $3.20.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.