BlackBerry (NYSE:BB) Updates Q3 Earnings Guidance

BlackBerry (NYSE:BB) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $(0.01)-$0.01 for the period, compared to the consensus EPS estimate of ($0.01). The company issued revenue guidance of $146-154 million, compared to the consensus revenue estimate of $149.98 million. BlackBerry also updated its FY 2025 guidance to -0.050–0.020 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BB shares. Canaccord Genuity Group lowered their price target on BlackBerry from $3.25 to $2.70 and set a hold rating on the stock in a report on Thursday, June 27th. Royal Bank of Canada reiterated a sector perform rating and issued a $3.00 target price on shares of BlackBerry in a report on Thursday, June 27th. TD Securities decreased their price target on shares of BlackBerry from $3.00 to $2.75 and set a hold rating for the company in a report on Thursday, June 27th. Raymond James dropped their price objective on shares of BlackBerry from $5.50 to $4.75 and set a market perform rating on the stock in a research note on Friday, June 28th. Finally, Cibc World Mkts raised shares of BlackBerry from a hold rating to a strong-buy rating in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $3.20.

BlackBerry Stock Up 6.5 %

Shares of BB traded up $0.15 during trading hours on Thursday, hitting $2.55. 19,197,245 shares of the company were exchanged, compared to its average volume of 8,951,357. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market cap of $1.50 billion, a PE ratio of -8.78 and a beta of 1.39. The firm’s 50 day moving average is $2.35 and its 200-day moving average is $2.60. BlackBerry has a 52 week low of $2.01 and a 52 week high of $4.94.

BlackBerry (NYSE:BB) last announced its earnings results on Wednesday, June 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. BlackBerry had a negative return on equity of 6.43% and a negative net margin of 25.80%. The firm had revenue of $144.00 million during the quarter, compared to analysts’ expectations of $132.05 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The company’s revenue was down 61.4% on a year-over-year basis. On average, equities research analysts forecast that BlackBerry will post -0.09 EPS for the current fiscal year.

Insider Activity at BlackBerry

In other BlackBerry news, insider Mattias Eriksson sold 52,549 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $2.45, for a total transaction of $128,745.05. Following the completion of the sale, the insider now directly owns 214,440 shares in the company, valued at $525,378. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

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.