BlackBerry (BB) Trading Down 4.1%

BlackBerry Ltd (NYSE:BB)’s share price traded down 4.1% during mid-day trading on Thursday . The company traded as low as $9.25 and last traded at $9.63. 1,112,164 shares were traded during trading, a decline of 78% from the average session volume of 5,069,957 shares. The stock had previously closed at $9.25.

Several research firms have recently weighed in on BB. MKM Partners decreased their target price on BlackBerry from $13.50 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, June 25th. BMO Capital Markets decreased their target price on BlackBerry from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Monday, June 25th. Canaccord Genuity decreased their target price on BlackBerry from $11.00 to $10.50 and set a “hold” rating on the stock in a research report on Monday, June 25th. Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research report on Thursday, October 4th. Finally, Raymond James raised their target price on BlackBerry from $11.00 to $11.50 and gave the company a “market perform” rating in a research report on Monday, October 1st. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $12.21.

The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 191.60 and a beta of 1.53. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.34.

BlackBerry (NYSE:BB) last posted its quarterly earnings results on Friday, September 28th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. BlackBerry had a positive return on equity of 0.61% and a negative net margin of 34.24%. The firm had revenue of $214.00 million during the quarter, compared to analysts’ expectations of $209.41 million. During the same quarter last year, the firm earned $0.05 earnings per share. The business’s revenue for the quarter was down 14.1% on a year-over-year basis. Analysts forecast that BlackBerry Ltd will post -0.05 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $500,000. Windward Capital Management Co. CA acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $109,000. Personal Resources Investment & Strategic Management Inc. acquired a new stake in shares of BlackBerry in the first quarter valued at approximately $150,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of BlackBerry in the second quarter valued at approximately $145,000. Finally, Sciencast Management LP acquired a new stake in shares of BlackBerry in the first quarter valued at approximately $183,000. 56.25% of the stock is owned by hedge funds and other institutional investors.

BlackBerry Company Profile (NYSE:BB)

BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.

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