BlackBerry (NYSE:BB) Announces Earnings Results

BlackBerry (NYSE:BB) announced its quarterly earnings results on Thursday. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03, RTT News reports. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business had revenue of $143.00 million for the quarter, compared to analyst estimates of $144.84 million. During the same quarter in the prior year, the company posted $0.01 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis.

BlackBerry Price Performance

BB opened at $2.98 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. BlackBerry has a 1-year low of $2.01 and a 1-year high of $4.27. The company has a 50-day moving average of $2.53 and a 200-day moving average of $2.45. The company has a market capitalization of $1.76 billion, a P/E ratio of -11.92 and a beta of 1.43.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BB shares. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Royal Bank of Canada raised their price objective on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research note on Tuesday. CIBC increased their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group boosted their target price on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, TD Securities raised their target price on BlackBerry from $2.75 to $3.25 and gave the company a “hold” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BlackBerry currently has an average rating of “Hold” and a consensus price target of $3.34.

Insider Activity

In other news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction that occurred on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the sale, the insider now owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. This trade represents a 33.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

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.