Scotiabank reissued their outperform rating on shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) in a report released on Thursday, StockTargetPrices.com reports. They currently have a $13.50 price target on the stock.
A number of other research analysts have also commented on BBRY. Raymond James Financial, Inc. lowered BlackBerry Limited from an outperform rating to a market perform rating and raised their price target for the company from $9.50 to $11.00 in a report on Monday, May 29th. Royal Bank Of Canada reissued a sector perform rating and set a $9.50 price target on shares of BlackBerry Limited in a report on Monday, June 26th. BidaskClub lowered BlackBerry Limited from a sell rating to a strong sell rating in a report on Wednesday, August 23rd. Goldman Sachs Group, Inc. (The) reissued a sell rating on shares of BlackBerry Limited in a report on Sunday, August 13th. Finally, William Blair reissued a market perform rating on shares of BlackBerry Limited in a report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. BlackBerry Limited currently has an average rating of Hold and an average target price of $9.58.
BlackBerry Limited (BBRY) opened at 9.13 on Thursday. BlackBerry Limited has a 52 week low of $6.65 and a 52 week high of $11.74. The firm has a market capitalization of $4.85 billion, a PE ratio of 37.57 and a beta of 0.99. The firm has a 50-day moving average of $9.05 and a 200 day moving average of $9.24.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last posted its earnings results on Friday, June 23rd. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $262.80 million. BlackBerry Limited had a negative return on equity of 1.67% and a net margin of 11.68%. BlackBerry Limited’s revenue was down 42.5% compared to the same quarter last year. Analysts predict that BlackBerry Limited will post $0.04 earnings per share for the current year.
BlackBerry Limited announced that its Board of Directors has approved a share buyback program on Friday, June 23rd that allows the company to buyback 31,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning boosted its position in BlackBerry Limited by 18.6% during the 2nd quarter. Creative Planning now owns 12,122 shares of the company’s stock worth $121,000 after acquiring an additional 1,900 shares during the period. B & T Capital Management DBA Alpha Capital Management acquired a new stake in BlackBerry Limited during the 2nd quarter worth about $123,000. American Asset Management Inc. acquired a new stake in BlackBerry Limited during the 2nd quarter worth about $123,000. Capital Investment Counsel Inc acquired a new stake in BlackBerry Limited during the 1st quarter worth about $126,000. Finally, Private Advisor Group LLC acquired a new stake in BlackBerry Limited during the 2nd quarter worth about $138,000. Hedge funds and other institutional investors own 63.32% of the company’s stock.
About BlackBerry Limited
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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