BlackBerry’s (BB) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of BlackBerry (NYSE:BB) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $3.00 price target on the stock.

A number of other brokerages have also issued reports on BB. CIBC upgraded shares of BlackBerry from a neutral rating to a sector outperform rating and set a $3.50 target price for the company in a research report on Thursday. Robert W. Baird decreased their price objective on shares of BlackBerry from $3.50 to $3.00 and set a neutral rating for the company in a report on Thursday. Finally, Canaccord Genuity Group lowered their price objective on shares of BlackBerry from $3.25 to $2.70 and set a hold rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $3.20.

BlackBerry Trading Up 1.2 %

Shares of NYSE BB opened at $2.48 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -8.55 and a beta of 1.37. BlackBerry has a 12-month low of $2.20 and a 12-month high of $5.75. The stock’s 50 day simple moving average is $2.76 and its 200 day simple moving average is $2.94.

BlackBerry (NYSE:BB) last posted its earnings results on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. BlackBerry had a negative return on equity of 6.30% and a negative net margin of 25.80%. The firm had revenue of $144.00 million for the quarter, compared to analysts’ expectations of $132.05 million. During the same period last year, the firm earned $0.04 EPS. The firm’s revenue was down 61.4% compared to the same quarter last year. Equities research analysts expect that BlackBerry will post -0.09 EPS for the current year.

Institutional Trading of BlackBerry

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highlander Capital Management LLC increased its stake in BlackBerry by 77.8% in the 4th quarter. Highlander Capital Management LLC now owns 8,000 shares of the company’s stock worth $28,000 after purchasing an additional 3,500 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of BlackBerry in the fourth quarter worth about $58,000. Oxford Asset Management LLP purchased a new position in shares of BlackBerry in the fourth quarter worth approximately $60,000. Private Advisor Group LLC raised its holdings in shares of BlackBerry by 28.4% during the fourth quarter. Private Advisor Group LLC now owns 25,522 shares of the company’s stock valued at $90,000 after acquiring an additional 5,645 shares during the period. Finally, Breakwater Capital Group acquired a new position in BlackBerry in the 4th quarter worth approximately $107,000. 54.48% of the stock is owned by institutional investors and hedge funds.

About BlackBerry

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.