BlackBerry (NYSE:BB) Issues Quarterly Earnings Results

BlackBerry (NYSE:BB) issued its quarterly earnings data on Wednesday. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01, RTT News reports. BlackBerry had a negative return on equity of 0.24% and a negative net margin of 15.24%. The business had revenue of $144.00 million during the quarter, compared to analysts’ expectations of $132.05 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The company’s revenue was down 61.4% on a year-over-year basis.

BlackBerry Stock Down 1.3 %

NYSE:BB traded down $0.03 during midday trading on Wednesday, reaching $2.21. The company had a trading volume of 12,461,691 shares, compared to its average volume of 10,522,018. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -9.21 and a beta of 1.37. The stock’s fifty day simple moving average is $2.77 and its 200-day simple moving average is $2.97. BlackBerry has a 12-month low of $2.20 and a 12-month high of $5.75. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.25.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.08.

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.