BlackBerry (NYSE:BB) Posts Earnings Results, Beats Expectations By $0.03 EPS

BlackBerry (NYSE:BB) released its quarterly earnings results on Thursday. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03, RTT News reports. The company had revenue of $143.00 million for the quarter, compared to analysts’ expectations of $144.84 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 earnings per share.

BlackBerry Stock Performance

Shares of BB opened at $3.69 on Friday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -14.76 and a beta of 1.43. BlackBerry has a 12 month low of $2.01 and a 12 month high of $3.89. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $2.56 and a 200 day moving average of $2.46.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Canaccord Genuity Group upped their price target on shares of BlackBerry from $2.80 to $3.00 and gave the company a “hold” rating in a research report on Friday. TD Securities upgraded BlackBerry from a “hold” rating to a “buy” rating and upped their price target for the company from $3.25 to $4.00 in a research report on Friday. StockNews.com raised shares of BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. TD Cowen raised shares of BlackBerry from a “hold” rating to a “buy” rating and lifted their target price for the stock from $3.25 to $4.00 in a research note on Friday. Finally, Royal Bank of Canada boosted their price objective on BlackBerry from $3.00 to $3.25 and gave the company a “sector perform” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.60.

Insider Transactions at BlackBerry

In related news, insider Philip S. Kurtz sold 15,005 shares of the stock in a transaction dated Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the sale, the insider now owns 30,129 shares of the company’s stock, valued at approximately $76,226.37. This represents a 33.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.