BlackBerry Limited (BB) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of BlackBerry Limited (NYSE:BB) from a buy rating to a hold rating in a research note released on Monday morning.
According to Zacks, “BlackBerry Limited is involved in the design, manufacture and marketing of wireless solutions for the mobile communications market. Its integrated hardware, software and services provide platforms and solutions for seamless access to information which includes e-mail, voice, instant messaging, short message service, Internet and intranet-based applications and browsing. The company operates in North America, Europe, Asia Pacific and Latin America. BlackBerry Limited, formerly known as Research In Motion Limited, is headquartered in Waterloo, Canada. “
Several other analysts have also issued reports on BB. Vetr lowered shares of BlackBerry Limited from a strong-buy rating to a buy rating and set a $10.20 price target for the company. in a research report on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) restated a sell rating on shares of BlackBerry Limited in a research report on Sunday, August 13th. BMO Capital Markets restated a hold rating and set a $10.00 price target on shares of BlackBerry Limited in a research report on Friday, September 29th. Canaccord Genuity restated a hold rating and set a $10.00 price target on shares of BlackBerry Limited in a research report on Monday, October 2nd. Finally, TD Securities restated a buy rating and set a $11.50 price target on shares of BlackBerry Limited in a research report on Tuesday, September 26th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. BlackBerry Limited has an average rating of Hold and a consensus price target of $9.76.
BlackBerry Limited (NYSE BB) traded down $0.09 during midday trading on Monday, reaching $10.69. 2,337,300 shares of the company’s stock traded hands, compared to its average volume of 6,393,957. The company has a current ratio of 5.19, a quick ratio of 5.17 and a debt-to-equity ratio of 0.27. BlackBerry Limited has a twelve month low of $6.65 and a twelve month high of $11.78. The stock has a market capitalization of $5,590.00, a price-to-earnings ratio of 539.00 and a beta of 1.04.
BlackBerry Limited (NYSE:BB) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. BlackBerry Limited had a net margin of 49.62% and a return on equity of 2.70%. The business had revenue of $238.00 million during the quarter, compared to analyst estimates of $221.21 million. BlackBerry Limited’s revenue was down 32.4% on a year-over-year basis. equities analysts expect that BlackBerry Limited will post -0.04 earnings per share for the current year.
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About BlackBerry Limited
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
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