BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) has been given a consensus recommendation of “Hold” by the twenty-two analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.39.
BBRY has been the subject of a number of analyst reports. TheStreet raised shares of BlackBerry Limited from a “d” rating to a “b-” rating in a research report on Friday, June 23rd. Vetr lowered shares of BlackBerry Limited from a “strong-buy” rating to a “buy” rating and set a $11.74 price objective for the company. in a research report on Wednesday, May 31st. Zacks Investment Research raised shares of BlackBerry Limited from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, June 28th. Morgan Stanley cut their price objective on shares of BlackBerry Limited from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 21st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $9.50 price objective on shares of BlackBerry Limited in a research report on Thursday, June 15th.
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BlackBerry Limited (NASDAQ:BBRY) (TSE:BB) last announced its earnings results on Friday, June 23rd. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $244 million during the quarter, compared to analysts’ expectations of $262.80 million. BlackBerry Limited had a net margin of 11.68% and a negative return on equity of 1.67%. The company’s revenue was down 42.5% on a year-over-year basis. Equities research analysts expect that BlackBerry Limited will post $0.04 earnings per share for the current fiscal year.
BlackBerry Limited declared that its Board of Directors has authorized a stock repurchase plan on Friday, June 23rd that permits the company to repurchase 31,000,000 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
A number of hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in BlackBerry Limited during the fourth quarter valued at about $24,556,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in BlackBerry Limited by 3.1% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 87,650 shares of the company’s stock valued at $609,000 after buying an additional 2,650 shares in the last quarter. Capstone Asset Management Co. boosted its stake in BlackBerry Limited by 13.2% in the first quarter. Capstone Asset Management Co. now owns 62,943 shares of the company’s stock valued at $488,000 after buying an additional 7,330 shares in the last quarter. Sei Investments Co. boosted its stake in BlackBerry Limited by 14.9% in the first quarter. Sei Investments Co. now owns 1,487,400 shares of the company’s stock valued at $11,528,000 after buying an additional 193,410 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of BlackBerry Limited by 300.0% in the first quarter. Bank of America Corp DE now owns 754,290 shares of the company’s stock worth $5,847,000 after buying an additional 565,739 shares during the period. 63.31% of the stock is currently owned by hedge funds and other institutional investors.
About BlackBerry Limited
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.
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