BlackBerry Limited (NYSE:BB) Receives Average Recommendation of “Hold” from Analysts

BlackBerry Limited (NYSE:BB) has been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $3.23.

A number of research analysts recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a report on Friday, September 27th. Canaccord Genuity Group raised their target price on shares of BlackBerry from $2.70 to $2.80 and gave the company a “hold” rating in a report on Friday, October 18th. Finally, CIBC raised their target price on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a report on Thursday, October 17th.

BlackBerry Trading Up 1.0 %

Shares of BB opened at $2.42 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.44. BlackBerry has a 1 year low of $2.01 and a 1 year high of $4.44. The company has a 50 day simple moving average of $2.42 and a two-hundred day simple moving average of $2.55. The firm has a market cap of $1.43 billion, a P/E ratio of -8.34 and a beta of 1.40.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The business had revenue of $145.00 million during the quarter, compared to analyst estimates of $138.82 million. During the same period last year, the firm posted ($0.06) EPS. The company’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts expect that BlackBerry will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares in the company, valued at approximately $76,226.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of BlackBerry

Several institutional investors and hedge funds have recently made changes to their positions in the business. FIFTHDELTA Ltd lifted its position in shares of 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 purchasing an additional 710,015 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of BlackBerry by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,505,300 shares of the company’s stock valued at $53,835,000 after acquiring an additional 149,444 shares in the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of BlackBerry by 25.6% in the first quarter. EdgePoint Investment Group Inc. now owns 12,443,225 shares of the company’s stock valued at $34,343,000 after acquiring an additional 2,536,966 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of BlackBerry by 9.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,115,850 shares of the company’s stock valued at $27,920,000 after acquiring an additional 886,523 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of BlackBerry by 132.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 6,069,593 shares of the company’s stock valued at $16,631,000 after acquiring an additional 3,458,275 shares in the last quarter. 54.48% of the stock is currently owned by institutional investors.

About BlackBerry

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.