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

BlackBerry Limited (NYSE:BB) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $4.08.

Several analysts have recently issued reports on BB shares. StockNews.com lowered BlackBerry from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. CIBC reduced their price objective on BlackBerry from $4.25 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a research note on Thursday, April 4th. Finally, Robert W. Baird reduced their price objective on BlackBerry from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th.

BlackBerry Stock Up 1.8 %

BB opened at $2.84 on Thursday. BlackBerry has a 1-year low of $2.46 and a 1-year high of $5.75. The stock’s fifty day simple moving average is $2.80 and its 200 day simple moving average is $3.23. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The stock has a market cap of $1.67 billion, a PE ratio of -11.83 and a beta of 1.41.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Wednesday, April 3rd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.06. The firm had revenue of $173.00 million for the quarter, compared to analysts’ expectations of $150.47 million. BlackBerry had a negative return on equity of 0.24% and a negative net margin of 15.24%. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) EPS. As a group, research analysts expect that BlackBerry will post -0.09 earnings per share for the current year.

Insiders Place Their Bets

In other BlackBerry news, Director Philip G. Brace bought 35,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was acquired at an average cost of $2.79 per share, for a total transaction of $97,650.00. Following the completion of the acquisition, the director now owns 35,000 shares in the company, valued at approximately $97,650. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BlackBerry

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of BlackBerry by 2.9% during the third quarter. Vanguard Group Inc. now owns 19,224,723 shares of the company’s stock valued at $90,548,000 after buying an additional 534,772 shares during the last quarter. Citigroup Inc. boosted its position in shares of BlackBerry by 8.1% during the third quarter. Citigroup Inc. now owns 282,592 shares of the company’s stock valued at $1,344,000 after buying an additional 21,100 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of BlackBerry by 179.2% during the fourth quarter. International Assets Investment Management LLC now owns 73,374 shares of the company’s stock valued at $260,000 after buying an additional 47,097 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of BlackBerry by 6.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 65,535 shares of the company’s stock valued at $232,000 after buying an additional 3,958 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in shares of BlackBerry during the third quarter valued at approximately $2,016,000. Institutional investors own 54.48% of the company’s stock.

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.