Macquarie started coverage on shares of BlackBerry (NYSE:BB) in a research note published on Friday, 24/7 WallStreet reports. The firm issued a neutral rating on the stock.

A number of other research firms have also issued reports on BB. Royal Bank of Canada dropped their target price on shares of BlackBerry from $10.00 to $9.00 and set a sector perform rating for the company in a report on Thursday, June 27th. Canaccord Genuity dropped their target price on shares of BlackBerry from $10.00 to $9.00 and set a hold rating for the company in a report on Thursday, June 27th. Finally, Raymond James dropped their target price on shares of BlackBerry from $11.00 to $10.50 and set a market perform rating for the company in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $10.25.

NYSE:BB opened at $6.96 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.45 and a current ratio of 2.45. The company has a fifty day moving average of $7.13 and a two-hundred day moving average of $8.33. The stock has a market capitalization of $3.66 billion, a PE ratio of 53.54 and a beta of 1.79. BlackBerry has a fifty-two week low of $6.57 and a fifty-two week high of $12.00.

BlackBerry (NYSE:BB) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.04. BlackBerry had a net margin of 12.58% and a return on equity of 1.84%. The company had revenue of $267.00 million during the quarter, compared to analysts’ expectations of $264.55 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. Research analysts forecast that BlackBerry will post -0.03 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its holdings in BlackBerry by 22.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 76,886 shares of the company’s stock valued at $573,000 after acquiring an additional 13,869 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in BlackBerry in the second quarter valued at approximately $98,000. Pictet Asset Management Ltd. raised its holdings in BlackBerry by 8.3% in the second quarter. Pictet Asset Management Ltd. now owns 223,737 shares of the company’s stock valued at $1,671,000 after acquiring an additional 17,200 shares in the last quarter. Jefferies Group LLC raised its holdings in BlackBerry by 90.9% in the second quarter. Jefferies Group LLC now owns 81,230 shares of the company’s stock valued at $606,000 after acquiring an additional 38,677 shares in the last quarter. Finally, Morgan Stanley raised its holdings in BlackBerry by 31.3% in the second quarter. Morgan Stanley now owns 2,269,672 shares of the company’s stock valued at $16,931,000 after acquiring an additional 540,553 shares in the last quarter. 50.13% of the stock is owned by institutional investors and hedge funds.

BlackBerry Company Profile

BlackBerry Limited provides enterprise software and services worldwide. The company offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.

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Analyst Recommendations for BlackBerry (NYSE:BB)

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