Blackline Safety (TSE:BLN) Downgraded to “Sector Perform” Rating by Royal Bank Of Canada

Blackline Safety (TSE:BLN) was downgraded by research analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Friday,BayStreet.CA reports. They presently have a C$9.25 price objective on the stock, up from their previous price objective of C$9.00. Royal Bank Of Canada’s price objective suggests a potential upside of 2.89% from the company’s current price.

Several other brokerages have also recently issued reports on BLN. Raymond James Financial cut shares of Blackline Safety from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from C$10.00 to C$9.38 in a research note on Friday, April 10th. Ventum Financial cut shares of Blackline Safety from a “buy” rating to a “tender” rating and boosted their price objective for the company from C$8.25 to C$9.00 in a research note on Thursday, April 9th. Finally, TD cut shares of Blackline Safety from a “hold” rating to a “sell” rating and boosted their price objective for the company from C$8.00 to C$9.00 in a research note on Monday, April 13th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$9.27.

Blackline Safety Stock Performance

BLN stock remained flat at C$8.99 on Friday. 244,083 shares of the company traded hands, compared to its average volume of 312,421. The firm’s 50-day simple moving average is C$8.19 and its 200 day simple moving average is C$7.22. Blackline Safety has a 1 year low of C$5.90 and a 1 year high of C$9.06. The stock has a market capitalization of C$782.34 million, a PE ratio of -74.92 and a beta of 0.87. The company has a current ratio of 2.02, a quick ratio of 3.09 and a debt-to-equity ratio of 17.78.

Blackline Safety (TSE:BLN) last announced its quarterly earnings data on Thursday, March 12th. The company reported C($0.03) earnings per share (EPS) for the quarter. The firm had revenue of C$38.85 million during the quarter. Blackline Safety had a negative net margin of 6.83% and a negative return on equity of 13.41%. As a group, equities analysts forecast that Blackline Safety will post -0.05 EPS for the current fiscal year.

About Blackline Safety

Blackline Safety Corp is a connected safety monitoring technology company. It provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations with coverage in more than 100 countries. Blackline Safety wearables provide a lifeline to tens of thousands of people, having reported over 161 billion data-points and initiated over five million emergency responses. Armed with cellular and satellite connectivity, the company ensure that help is never too far away.