BlackBerry (NYSE:BB) Issues Earnings Results

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

BlackBerry Trading Down 1.0 %

Shares of NYSE BB traded down $0.03 during mid-day trading on Thursday, hitting $2.98. 20,702,389 shares of the company traded hands, compared to its average volume of 9,563,922. The business has a 50 day moving average of $2.52 and a two-hundred day moving average of $2.45. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -11.92 and a beta of 1.43. BlackBerry has a 1 year low of $2.01 and a 1 year high of $4.27. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27.

Insider Buying and Selling

In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction that occurred on 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 directly owns 30,129 shares in the company, valued at approximately $76,226.37. The trade was a 33.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

BlackBerry Company Profile

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.