Blackline Safety (TSE:BLN) Hits New 12-Month High – What’s Next?

Blackline Safety Corp. (TSE:BLN) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$9.06 and last traded at C$9.05, with a volume of 288468 shares trading hands. The stock had previously closed at C$9.01.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Raymond James Financial lowered shares of Blackline Safety from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$10.00 to C$9.38 in a research note on Friday, April 10th. Royal Bank Of Canada downgraded shares of Blackline Safety from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from C$9.00 to C$9.25 in a research report on Friday, May 22nd. TD lowered shares of Blackline Safety from a “hold” rating to a “sell” rating and boosted their target price for the company from C$8.00 to C$9.00 in a research note on Monday, April 13th. Finally, Ventum Financial cut Blackline Safety from a “buy” rating to a “tender” rating and increased their price target for the company 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 assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Blackline Safety currently has a consensus rating of “Hold” and a consensus target price of C$9.27.

Blackline Safety Trading Up 0.3%

The firm has a market capitalization of C$790.44 million, a P/E ratio of -82.18 and a beta of 0.99. The company has a current ratio of 1.89, a quick ratio of 3.09 and a debt-to-equity ratio of 17.76. The stock has a 50 day simple moving average of C$8.86 and a 200-day simple moving average of C$7.46.

Blackline Safety (TSE:BLN) last posted its quarterly earnings data on Wednesday, June 10th. The company reported C($0.04) earnings per share (EPS) for the quarter. The business had revenue of C$44.29 million during the quarter. Blackline Safety had a negative return on equity of 13.09% and a negative net margin of 6.11%. On average, equities research analysts forecast 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.