BlackBerry Limited (NYSE:BB) Given Consensus Recommendation of “Hold” by Brokerages

Shares of BlackBerry Limited (NYSE:BB) have been given an average recommendation of “Hold” by the six research firms that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $4.08.

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price target on shares of BlackBerry in a research report on Thursday, April 4th.

BlackBerry Stock Performance

Shares of BB stock opened at $2.33 on Friday. The company’s fifty day simple moving average is $2.81 and its 200-day simple moving average is $3.03. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.37 billion, a PE ratio of -9.69 and a beta of 1.37. BlackBerry has a 12 month low of $2.23 and a 12 month high of $5.75.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, April 3rd. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. BlackBerry had a negative net margin of 15.24% and a negative return on equity of 0.24%. The business had revenue of $173.00 million for the quarter, compared to analyst estimates of $150.47 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities research analysts expect that BlackBerry will post -0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On BlackBerry

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP grew its stake in BlackBerry by 70.1% during the fourth quarter. First Trust Advisors LP now owns 33,801,506 shares of the company’s stock worth $119,657,000 after buying an additional 13,925,510 shares in the last quarter. FIFTHDELTA Ltd grew its stake in BlackBerry by 2.3% during the first quarter. FIFTHDELTA Ltd now owns 31,499,858 shares of the company’s stock worth $86,940,000 after buying an additional 710,015 shares in the last quarter. Vanguard Group Inc. grew its stake in BlackBerry by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock worth $53,835,000 after buying an additional 149,444 shares in the last quarter. Norges Bank acquired a new stake in BlackBerry during the fourth quarter worth about $48,775,000. Finally, EdgePoint Investment Group Inc. grew its stake in BlackBerry by 25.6% during the first quarter. EdgePoint Investment Group Inc. now owns 12,443,225 shares of the company’s stock worth $34,343,000 after buying an additional 2,536,966 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors and hedge funds.

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.