Brokerages forecast that BlackBerry Ltd (NYSE:BB) will announce sales of $213.48 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for BlackBerry’s earnings. The highest sales estimate is $221.00 million and the lowest is $205.95 million. BlackBerry posted sales of $249.00 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 14.3%. The company is scheduled to announce its next quarterly earnings results on Thursday, September 27th.
According to Zacks, analysts expect that BlackBerry will report full-year sales of $881.81 million for the current financial year, with estimates ranging from $860.61 million to $894.00 million. For the next year, analysts expect that the firm will report sales of $909.70 million per share, with estimates ranging from $879.56 million to $953.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow BlackBerry.
BlackBerry (NYSE:BB) last posted its earnings results on Friday, June 22nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.06. The company had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $209.56 million. BlackBerry had a positive return on equity of 3.91% and a negative net margin of 35.82%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share.
BB has been the subject of a number of research reports. MKM Partners dropped their price objective on BlackBerry from $13.50 to $12.00 and set a “neutral” rating for the company in a research note on Monday, June 25th. BMO Capital Markets dropped their price objective on BlackBerry from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday, June 25th. Canaccord Genuity dropped their price objective on BlackBerry from $11.00 to $10.50 and set a “hold” rating for the company in a research note on Monday, June 25th. Finally, Zacks Investment Research cut BlackBerry from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.85.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Windward Capital Management Co. CA acquired a new position in BlackBerry during the 2nd quarter worth $109,000. Gabelli Funds LLC acquired a new position in BlackBerry during the 1st quarter worth $115,000. Campbell & CO Investment Adviser LLC acquired a new position in BlackBerry during the 2nd quarter worth $145,000. Personal Resources Investment & Strategic Management Inc. acquired a new position in BlackBerry during the 1st quarter worth $150,000. Finally, King Luther Capital Management Corp acquired a new position in BlackBerry during the 1st quarter worth $162,000. 56.30% of the stock is owned by hedge funds and other institutional investors.
BB stock traded down $0.12 during midday trading on Monday, hitting $9.85. 468,861 shares of the company’s stock were exchanged, compared to its average volume of 3,525,915. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.34. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 200.20 and a beta of 1.43. BlackBerry has a 1-year low of $8.97 and a 1-year high of $14.55.
BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It offers BlackBerry Enterprise Mobility Suite, which combines and integrates mobile security, management, productivity, and collaboration solutions, such as BlackBerry UEM, BlackBerry Dynamics, and BlackBerry Workspaces; BlackBerry AtHoc, a secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.
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