Blackline Safety (TSE:BLN) Reaches New 1-Year High – Here’s What Happened

Blackline Safety Corp. (TSE:BLN) shares hit a new 52-week high on Wednesday . The stock traded as high as C$9.07 and last traded at C$9.06, with a volume of 17265 shares changing hands. The stock had previously closed at C$9.05.

Analyst Ratings Changes

BLN has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered shares of Blackline Safety from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from C$9.00 to C$9.25 in a report on Friday, May 22nd. Raymond James Financial cut Blackline Safety from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$10.00 to C$9.38 in a research note on Friday, April 10th. TD downgraded Blackline Safety from a “hold” rating to a “sell” rating and upped their price target for the company from C$8.00 to C$9.00 in a report on Monday, April 13th. Finally, Ventum Financial downgraded Blackline Safety from a “buy” rating to a “tender” rating and lifted their price objective for the stock from C$8.25 to C$9.00 in a report on Thursday, April 9th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$9.27.

Blackline Safety Price Performance

The stock has a market capitalization of C$792.19 million, a P/E ratio of -82.36 and a beta of 0.99. The company has a debt-to-equity ratio of 17.76, a quick ratio of 3.09 and a current ratio of 1.89. The firm has a fifty day moving average price of C$8.98 and a two-hundred day moving average price of C$7.54.

Blackline Safety (TSE:BLN) last posted its quarterly earnings data on Wednesday, June 10th. The company reported C($0.04) EPS for the quarter. Blackline Safety had a negative net margin of 6.11% and a negative return on equity of 13.09%. The firm had revenue of C$44.29 million for the quarter. As a group, analysts expect that Blackline Safety Corp. will post -0.05 EPS for the current fiscal year.

Blackline Safety Company Profile

Blackline Safety Corp is a connected safety monitoring technology company. It provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations with coverage in more than 100 countries. Blackline Safety wearables provide a lifeline to tens of thousands of people, having reported over 161 billion data-points and initiated over five million emergency responses. Armed with cellular and satellite connectivity, the company ensure that help is never too far away.