Toronto Dominion Bank decreased its position in BlackBerry Ltd (NYSE:BB) by 25.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,096,162 shares of the company’s stock after selling 1,035,054 shares during the quarter. Toronto Dominion Bank owned approximately 0.56% of BlackBerry worth $23,083,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Intercontinental Wealth Advisors LLC bought a new position in BlackBerry in the second quarter valued at about $42,000. Acadian Asset Management LLC bought a new position in BlackBerry in the second quarter valued at about $59,000. GSA Capital Partners LLP bought a new position in BlackBerry in the second quarter valued at about $102,000. Heathbridge Capital Management Ltd. bought a new position in BlackBerry in the second quarter valued at about $112,000. Finally, Cutter & CO Brokerage Inc. bought a new position in BlackBerry in the second quarter valued at about $141,000. 50.82% of the stock is currently owned by institutional investors.
Shares of NYSE:BB traded up $0.08 during trading on Friday, hitting $7.49. 189,014 shares of the company’s stock were exchanged, compared to its average volume of 2,976,677. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.45 and a quick ratio of 2.45. BlackBerry Ltd has a 52-week low of $6.57 and a 52-week high of $12.00. The business’s 50-day simple moving average is $7.02 and its 200 day simple moving average is $8.17. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 57.54 and a beta of 1.78.
BlackBerry (NYSE:BB) last released its earnings results on Wednesday, June 26th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.04. BlackBerry had a return on equity of 1.84% and a net margin of 12.58%. The firm had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $264.55 million. During the same quarter last year, the business posted $0.03 earnings per share. The firm’s revenue was up 23.0% on a year-over-year basis. On average, sell-side analysts anticipate that BlackBerry Ltd will post -0.03 EPS for the current fiscal year.
A number of analysts have commented on BB shares. Raymond James reduced their price target on BlackBerry from $11.00 to $10.50 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Macquarie set a $11.00 price target on BlackBerry and gave the stock a “hold” rating in a research report on Friday, August 30th. Royal Bank of Canada reduced their price target on BlackBerry from $10.00 to $9.00 and set a “sector perform” rating for the company in a research report on Thursday, June 27th. Canaccord Genuity reduced their price target on BlackBerry from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, June 27th. Finally, Scotiabank set a $10.00 price target on BlackBerry and gave the stock a “buy” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $10.30.
BlackBerry Limited provides enterprise software and services worldwide. The company 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 networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.
Further Reading: Depreciation
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