BlackBerry (NYSE:BB) Posts Earnings Results, Beats Expectations By $0.03 EPS

BlackBerry (NYSE:BB) released its earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03, RTT News reports. The firm had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 earnings per share.

BlackBerry Trading Down 1.0 %

Shares of BB stock opened at $2.98 on Friday. BlackBerry has a twelve month low of $2.01 and a twelve month high of $4.27. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -11.92 and a beta of 1.43. The company’s 50-day moving average price is $2.53 and its 200-day moving average price is $2.45.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BB shares. Royal Bank of Canada raised their price target on shares of BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research report on Tuesday. StockNews.com raised BlackBerry from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. TD Securities boosted their price objective on shares of BlackBerry from $2.75 to $3.25 and gave the company a “hold” rating in a research report on Wednesday. Canaccord Genuity Group boosted their price objective on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, CIBC upped their price objective on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.34.

Insider Activity

In related news, insider Philip S. Kurtz sold 15,005 shares of BlackBerry stock in a transaction that occurred on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total value of $37,962.65. Following the completion of the transaction, the insider now owns 30,129 shares in the company, valued at $76,226.37. The trade was a 33.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

BlackBerry Company Profile

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.