TheStreet downgraded shares of BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) from a b- rating to a c+ rating in a report issued on Monday, July 17th.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded BlackBerry Limited from a buy rating to a hold rating in a research note on Tuesday, March 21st. Royal Bank Of Canada restated a hold rating and set a $7.50 price target on shares of BlackBerry Limited in a research note on Friday, March 24th. Canaccord Genuity reaffirmed a hold rating and set a $8.00 price objective on shares of BlackBerry Limited in a research report on Friday, March 31st. Macquarie raised BlackBerry Limited from a neutral rating to an outperform rating and increased their price objective for the stock from $8.10 to $9.00 in a research report on Monday, April 3rd. Finally, Scotiabank set a $10.65 price objective on BlackBerry Limited in a research report on Monday, April 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $9.32.
Shares of BlackBerry Limited (BBRY) traded down 0.21% during midday trading on Monday, hitting $9.72. The stock had a trading volume of 2,904,592 shares. The firm has a 50 day moving average price of $10.17 and a 200 day moving average price of $8.73. BlackBerry Limited has a one year low of $6.65 and a one year high of $11.74. The stock has a market cap of $5.16 billion, a PE ratio of 40.00 and a beta of 0.98.
BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last released its quarterly earnings data on Friday, June 23rd. The company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. BlackBerry Limited had a negative return on equity of 1.67% and a net margin of 11.68%. The business had revenue of $244 million for the quarter, compared to the consensus estimate of $262.80 million. The business’s revenue was down 42.5% on a year-over-year basis. On average, equities analysts forecast that BlackBerry Limited will post $0.04 earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. Iridian Asset Management LLC CT raised its stake in shares of BlackBerry Limited by 25.8% in the first quarter. Iridian Asset Management LLC CT now owns 26,338,893 shares of the company’s stock valued at $204,126,000 after buying an additional 5,403,804 shares in the last quarter. Norges Bank bought a new position in BlackBerry Limited during the fourth quarter valued at approximately $24,556,000. OppenheimerFunds Inc. raised its position in BlackBerry Limited by 83.9% in the first quarter. OppenheimerFunds Inc. now owns 7,357,607 shares of the company’s stock valued at $57,005,000 after buying an additional 3,356,948 shares during the period. First Eagle Investment Management LLC raised its position in BlackBerry Limited by 48.9% in the first quarter. First Eagle Investment Management LLC now owns 6,159,856 shares of the company’s stock valued at $47,739,000 after buying an additional 2,022,000 shares during the period. Finally, Kornitzer Capital Management Inc. KS acquired a new position in shares of BlackBerry Limited during the second quarter worth about $18,807,000. 62.41% of the stock is owned by hedge funds and other institutional investors.
BlackBerry Limited Company Profile
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of 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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