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

BlackBerry Limited (NYSE:BB – Get Rating) has earned a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.21.

Several brokerages recently weighed in on BB. Scotiabank reduced their price target on shares of BlackBerry from $7.50 to $6.50 and set an “underperform” rating on the stock in a research report on Tuesday, February 1st. TD Securities reduced their price target on shares of BlackBerry from $7.00 to $6.50 and set a “reduce” rating on the stock in a research report on Friday, April 1st. Zacks Investment Research restated a “hold” rating on shares of BlackBerry in a research report on Thursday, March 3rd. Royal Bank of Canada upgraded shares of BlackBerry from an “underperform” rating to a “sector perform” rating and set a $7.00 price target on the stock in a research report on Monday, March 21st. Finally, Canaccord Genuity Group cut their price objective on shares of BlackBerry from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, February 22nd.

In related news, insider Marjorie Dickman sold 16,194 shares of the stock in a transaction that occurred on Saturday, April 2nd. The shares were sold at an average price of $6.90, for a total value of $111,738.60. Following the transaction, the insider now owns 68,519 shares in the company, valued at approximately $472,781.10. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Large investors have recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of BlackBerry during the 3rd quarter valued at approximately $89,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of BlackBerry by 2.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 163,233 shares of the company’s stock valued at $1,504,000 after buying an additional 3,312 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of BlackBerry by 78.4% during the 3rd quarter. Alliancebernstein L.P. now owns 57,516 shares of the company’s stock valued at $560,000 after buying an additional 25,278 shares in the last quarter. Caption Management LLC purchased a new position in shares of BlackBerry during the 3rd quarter valued at approximately $1,176,000. Finally, BlackRock Inc. lifted its holdings in BlackBerry by 6.9% in the 3rd quarter. BlackRock Inc. now owns 1,667,278 shares of the company’s stock valued at $16,222,000 after purchasing an additional 107,596 shares in the last quarter. Hedge funds and other institutional investors own 36.14% of the company’s stock.

BB stock opened at $5.72 on Friday. BlackBerry has a one year low of $5.57 and a one year high of $20.17. The company’s fifty day moving average price is $6.70 and its 200-day moving average price is $8.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.27 and a current ratio of 2.27. The company has a market capitalization of $3.30 billion, a PE ratio of -5.90 and a beta of 1.36.

BlackBerry (NYSE:BB – Get Rating) last released its earnings results on Thursday, March 31st. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.06. BlackBerry had a negative net margin of 60.16% and a negative return on equity of 6.13%. The firm had revenue of $185.00 million for the quarter, compared to the consensus estimate of $186.04 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, research analysts predict that BlackBerry will post -0.2 EPS for the current fiscal year.

About BlackBerry (Get Rating)

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 BlackBerry Cyber Suite, which provides Cylance AI and machine learning-based cybersecurity solutions, including BlackBerry Protect, an EPP and available MTD solution; BlackBerry Optics, an EDR solution that provides visibility into and prevention of malicious activity; BlackBerry Guard, a managed detection and response solution; BlackBerry Gateway, an AI-empowered ZTNA solution; and BlackBerry Persona, a UEBA solution that provides authentication by validating user identity in real time.

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