BlackBerry Limited (NYSE:BB) Given Consensus Recommendation of “Hold” by Brokerages

BlackBerry Limited (NYSE:BB) has been given an average rating of “Hold” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $8.46.

BB has been the subject of several recent research reports. Raymond James boosted their price objective on BlackBerry from $8.00 to $9.50 and gave the company a “market perform” rating in a report on Wednesday, March 31st. Zacks Investment Research downgraded BlackBerry from a “hold” rating to a “sell” rating and set a $9.75 price target for the company. in a report on Tuesday, April 6th. Scotiabank downgraded BlackBerry from a “sector perform” rating to a “sector underperform” rating in a report on Wednesday, January 27th. Canaccord Genuity upped their price target on BlackBerry from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Wednesday, May 5th. Finally, Royal Bank of Canada downgraded BlackBerry from a “sector perform” rating to an “underperform” rating and set a $7.50 price target for the company. in a report on Tuesday, January 26th.

In other BlackBerry news, insider Marjorie Dickman sold 16,304 shares of the company’s stock in a transaction on Friday, April 2nd. The stock was sold at an average price of $8.73, for a total value of $142,333.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.56% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Advisory Services Network LLC lifted its position in shares of BlackBerry by 249.4% during the 4th quarter. Advisory Services Network LLC now owns 3,718 shares of the company’s stock valued at $25,000 after buying an additional 2,654 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of BlackBerry during the 4th quarter valued at $32,000. Atlas Capital Advisors LLC purchased a new position in shares of BlackBerry during the 1st quarter valued at $34,000. Glassman Wealth Services lifted its position in shares of BlackBerry by 1,986.3% during the 1st quarter. Glassman Wealth Services now owns 6,238 shares of the company’s stock valued at $53,000 after buying an additional 5,939 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of BlackBerry during the 3rd quarter valued at $57,000. Hedge funds and other institutional investors own 46.60% of the company’s stock.

BB traded down $0.01 during trading on Friday, hitting $7.94. The company’s stock had a trading volume of 13,581,052 shares, compared to its average volume of 36,906,133. The firm has a market capitalization of $4.49 billion, a P/E ratio of -5.36 and a beta of 1.66. BlackBerry has a twelve month low of $4.27 and a twelve month high of $28.77. The stock’s fifty day moving average price is $8.86 and its 200-day moving average price is $8.97. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.25.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Monday, March 29th. The company reported $0.03 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. The firm had revenue of $215.00 million during the quarter. BlackBerry had a positive return on equity of 4.12% and a negative net margin of 86.01%. During the same quarter in the prior year, the firm earned $0.09 EPS. Equities research analysts expect that BlackBerry will post 0.06 EPS for the current fiscal year.

BlackBerry Company Profile

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company leverages artificial intelligence and machine learning to deliver solutions in the areas of cybersecurity, safety, and data privacy; and endpoint security management, encryption, and embedded systems.

Featured Article: Dual Listing

Analyst Recommendations for BlackBerry (NYSE:BB)

Receive News & Ratings for BlackBerry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackBerry and related companies with MarketBeat.com's FREE daily email newsletter.