Scotiabank Reiterates “Buy” Rating for BlackBerry (BB)

BlackBerry (NYSE:BB)‘s stock had its “buy” rating reaffirmed by equities researchers at Scotiabank in a research report issued to clients and investors on Thursday. They currently have a $12.50 price objective on the stock. Scotiabank’s price target points to a potential upside of 7.76% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $12.00 price target on shares of BlackBerry in a report on Thursday. Royal Bank of Canada reaffirmed a “hold” rating and set a $9.50 price target on shares of BlackBerry in a report on Friday, September 22nd. Canaccord Genuity reaffirmed a “hold” rating and set a $11.00 price target on shares of BlackBerry in a report on Thursday. Vetr lowered shares of BlackBerry from a “strong-buy” rating to a “buy” rating and set a $10.20 price objective for the company. in a report on Tuesday, September 26th. Finally, BidaskClub lowered shares of BlackBerry from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $10.14.

Shares of BlackBerry (BB) opened at $11.60 on Thursday. The firm has a market cap of $6,450.10, a price-to-earnings ratio of 21.48 and a beta of 1.09. BlackBerry has a fifty-two week low of $6.65 and a fifty-two week high of $12.36. The company has a current ratio of 5.19, a quick ratio of 5.17 and a debt-to-equity ratio of 0.27.

BlackBerry (NYSE:BB) last released its quarterly earnings results on Wednesday, December 20th. The company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.49). The firm had revenue of $235.00 million for the quarter, compared to analyst estimates of $216.70 million. BlackBerry had a net margin of 37.36% and a return on equity of 3.69%. BlackBerry’s revenue for the quarter was down 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 earnings per share. equities analysts anticipate that BlackBerry will post -0.04 earnings per share for the current year.

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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.

Analyst Recommendations for BlackBerry (NYSE:BB)

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