BlackBerry (NYSE:BB) Announces Quarterly Earnings Results

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

BlackBerry Stock Down 1.0 %

Shares of NYSE BB traded down $0.03 during midday trading on Thursday, reaching $2.98. 20,702,389 shares of the company’s stock were exchanged, compared to its average volume of 9,563,922. The stock has a market capitalization of $1.76 billion, a PE ratio of -11.92 and a beta of 1.43. BlackBerry has a 52-week low of $2.01 and a 52-week high of $4.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.44. The business’s fifty day moving average price is $2.52 and its two-hundred day moving average price is $2.45.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at BlackBerry

In other news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction dated Saturday, September 28th. The shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

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.