BlackBerry (NYSE:BB) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

BlackBerry (NYSE:BB) announced its quarterly earnings data on Thursday. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02, Zacks reports. The firm had revenue of $145.00 million during the quarter, compared to analysts’ expectations of $138.82 million. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) earnings per share.

BlackBerry Stock Down 1.0 %

Shares of BB opened at $2.52 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 1.43. BlackBerry has a 1-year low of $2.01 and a 1-year high of $4.90. The firm has a fifty day moving average price of $2.35 and a 200 day moving average price of $2.60.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Securities decreased their target price on BlackBerry from $3.00 to $2.75 and set a “hold” rating for the company in a report on Thursday, June 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price objective on shares of BlackBerry in a research report on Friday. Canaccord Genuity Group reduced their target price on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a report on Thursday, June 27th. CIBC upgraded shares of BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 price target for the company in a report on Thursday, June 27th. Finally, Cibc World Mkts upgraded shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.20.

About BlackBerry

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.