BlackBerry (NYSE:BB) Issues Quarterly Earnings Results

BlackBerry (NYSE:BB) announced its quarterly earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.01, MarketWatch Earnings reports. The business had revenue of $175.00 million during the quarter, compared to analysts’ expectations of $164.28 million. BlackBerry had a negative net margin of 61.56% and a positive return on equity of 1.02%. The firm’s revenue for the quarter was down 32.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS.

Shares of BlackBerry stock opened at $9.56 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.37 and a quick ratio of 2.37. The company has a 50-day moving average of $10.36 and a 200 day moving average of $10.48. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of -10.17 and a beta of 1.23. BlackBerry has a 1 year low of $4.37 and a 1 year high of $28.77.

In related news, COO Thomas Eacobacci sold 109,994 shares of the stock in a transaction dated Friday, July 23rd. The shares were sold at an average price of $10.06, for a total value of $1,106,539.64. Following the completion of the transaction, the chief operating officer now directly owns 281,294 shares in the company, valued at approximately $2,829,817.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

An institutional investor recently raised its position in BlackBerry stock. Morgan Stanley raised its position in shares of BlackBerry Limited (NYSE:BB) by 20.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,690,762 shares of the company’s stock after purchasing an additional 288,734 shares during the quarter. Morgan Stanley owned 0.30% of BlackBerry worth $20,661,000 at the end of the most recent quarter. 36.16% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on BB. CIBC cut shares of BlackBerry from a “neutral” rating to an “underperform” rating and increased their price target for the company from $9.00 to $11.00 in a research report on Friday, June 25th. Raymond James set a $9.50 price target on shares of BlackBerry and gave the company a “market perform” rating in a research report on Friday, June 25th. Zacks Investment Research raised shares of BlackBerry from a “sell” rating to a “hold” rating and set a $15.00 target price for the company in a research report on Wednesday, June 2nd. TD Securities cut shares of BlackBerry from a “hold” rating to a “reduce” rating and set a $8.50 target price for the company. in a research report on Friday, June 25th. Finally, Canaccord Genuity raised shares of BlackBerry from a “sell” rating to a “hold” rating and set a $10.00 target price for the company in a research report on Wednesday, August 18th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, BlackBerry has a consensus rating of “Sell” and a consensus target price of $10.58.

BlackBerry Company Profile

BlackBerry Ltd. engages in providing the intelligent security software and services to enterprises and governments. The firm leverages artificial intelligence and machine learning to deliver solutions in the areas of cyber security, safety, data privacy solutions, and also focuses in the areas of endpoint security, endpoint management, encryption, and embedded systems.

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Earnings History for BlackBerry (NYSE:BB)

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