BlackBerry Ltd (BBRY) Stock Rating Reaffirmed by Imperial Capital

Imperial Capital reissued their in-line rating on shares of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) in a research report released on Thursday morning. The firm currently has a $8.25 price objective on the smartphone producer’s stock.

Several other research analysts have also issued reports on BBRY. Credit Suisse Group AG reissued an underperform rating and issued a $6.00 price target on shares of BlackBerry in a research report on Wednesday, December 7th. Wells Fargo & Co reaffirmed a market perform rating on shares of BlackBerry in a report on Saturday, December 10th. BMO Capital Markets reaffirmed a market perform rating and set a $8.00 price objective on shares of BlackBerry in a report on Friday, December 23rd. Canaccord Genuity reaffirmed a hold rating and set a $7.50 price objective (down previously from $8.00) on shares of BlackBerry in a report on Friday, December 23rd. Finally, Zacks Investment Research raised shares of BlackBerry from a hold rating to a buy rating and set a $8.25 price objective for the company in a report on Friday, December 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. BlackBerry has an average rating of Hold and an average target price of $8.63.

Shares of BlackBerry (NASDAQ:BBRY) traded down 0.11% during mid-day trading on Thursday, hitting $9.09. The company had a trading volume of 4,520,278 shares. The stock’s market cap is $4.83 billion. BlackBerry has a 52-week low of $6.23 and a 52-week high of $9.19. The stock’s 50-day moving average is $7.50 and its 200-day moving average is $7.37.

BlackBerry (NASDAQ:BBRY) last posted its quarterly earnings results on Friday, March 31st. The smartphone producer reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. BlackBerry had a negative net margin of 93.19% and a negative return on equity of 3.62%. The firm earned $297 million during the quarter, compared to analyst estimates of $288.45 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. The company’s quarterly revenue was down 39.0% compared to the same quarter last year. Equities analysts forecast that BlackBerry will post $0.03 earnings per share for the current year.

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Several large investors have recently bought and sold shares of BBRY. BNP Paribas Arbitrage SA raised its stake in BlackBerry by 0.4% in the third quarter. BNP Paribas Arbitrage SA now owns 88,468 shares of the smartphone producer’s stock worth $706,000 after buying an additional 314 shares in the last quarter. State Street Corp raised its stake in BlackBerry by 4.3% in the fourth quarter. State Street Corp now owns 26,952 shares of the smartphone producer’s stock worth $186,000 after buying an additional 1,100 shares in the last quarter. First Trust Advisors LP raised its stake in BlackBerry by 4.4% in the third quarter. First Trust Advisors LP now owns 39,867 shares of the smartphone producer’s stock worth $318,000 after buying an additional 1,664 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of BlackBerry by 0.3% in the third quarter. Great West Life Assurance Co. Can now owns 608,635 shares of the smartphone producer’s stock valued at $4,843,000 after buying an additional 1,938 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its position in shares of BlackBerry by 9.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 29,020 shares of the smartphone producer’s stock valued at $200,000 after buying an additional 2,500 shares in the last quarter. 62.41% of the stock is currently owned by institutional investors.

BlackBerry Company Profile

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.

5 Day Chart for NASDAQ:BBRY

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