BlackBerry (NYSE:BB) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

BlackBerry (NYSE:BB) issued its earnings results on Thursday. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02, Zacks reports. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The company had revenue of $145.00 million for the quarter, compared to the consensus estimate of $138.82 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. BlackBerry’s quarterly revenue was up 9.8% compared to the same quarter last year.

BlackBerry Stock Down 0.8 %

BlackBerry stock opened at $2.52 on Friday. The stock has a market cap of $1.49 billion, a PE ratio of -8.69 and a beta of 1.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.43 and a quick ratio of 1.43. The stock’s fifty day moving average is $2.35 and its two-hundred day moving average is $2.60. BlackBerry has a 1-year low of $2.01 and a 1-year high of $4.90.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Cibc World Mkts upgraded BlackBerry from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 27th. Raymond James lowered their target price on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating for the company in a research note on Friday, June 28th. Canaccord Genuity Group reduced their price target on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a research note on Thursday, June 27th. Robert W. Baird decreased their price objective on shares of BlackBerry from $3.50 to $3.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Canaccord Genuity Group dropped their target price on BlackBerry from $3.25 to $2.70 and set a “hold” rating for the company in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.20.

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.