BlackBerry (NYSE:BB) Announces Quarterly Earnings Results

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

BlackBerry Price Performance

Shares of NYSE BB opened at $2.55 on Friday. 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 50 day simple moving average of $2.35 and a two-hundred day simple moving average of $2.60. BlackBerry has a fifty-two week low of $2.01 and a fifty-two week high of $4.94. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -8.78 and a beta of 1.39.

Analyst Ratings Changes

A number of research analysts have issued reports on BB shares. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a research report on Thursday, June 27th. Cibc World Mkts upgraded shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 27th. TD Securities lowered their price objective 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. Canaccord Genuity Group reduced their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a report on Thursday, June 27th. Finally, Robert W. Baird decreased their target price on BlackBerry from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.