Shares of BlackBerry Ltd (NYSE:BB) have received a consensus recommendation of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $10.63.

Several brokerages have recently weighed in on BB. Canaccord Genuity cut their price objective on shares of BlackBerry from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, June 27th. Royal Bank of Canada cut their price objective on shares of BlackBerry from $10.00 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, June 27th. Macquarie set a $11.00 price objective on shares of BlackBerry and gave the stock a “hold” rating in a report on Friday, August 30th. Raymond James cut their price objective on shares of BlackBerry from $11.00 to $10.50 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Finally, Scotiabank set a $10.00 price objective on shares of BlackBerry and gave the stock a “buy” rating in a report on Friday, August 23rd.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Intercontinental Wealth Advisors LLC purchased a new position in BlackBerry in the second quarter valued at approximately $42,000. Acadian Asset Management LLC purchased a new position in BlackBerry in the second quarter valued at approximately $59,000. Cambridge Investment Research Advisors Inc. purchased a new position in BlackBerry in the second quarter valued at approximately $98,000. GSA Capital Partners LLP purchased a new position in BlackBerry in the second quarter valued at approximately $102,000. Finally, Heathbridge Capital Management Ltd. purchased a new position in BlackBerry in the second quarter valued at approximately $112,000. Hedge funds and other institutional investors own 50.09% of the company’s stock.

Shares of BB stock traded down $0.03 during trading hours on Monday, hitting $7.54. 3,393,636 shares of the company were exchanged, compared to its average volume of 3,581,515. The firm has a market cap of $4.12 billion, a PE ratio of 58.00 and a beta of 1.78. BlackBerry has a 1 year low of $6.57 and a 1 year high of $12.00. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average of $7.05 and a 200 day moving average of $8.12.

BlackBerry (NYSE:BB) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. The business had revenue of $267.00 million for the quarter, compared to analyst estimates of $264.55 million. BlackBerry had a net margin of 12.58% and a return on equity of 1.84%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 EPS. Analysts expect that BlackBerry will post -0.03 earnings per share for the current year.

BlackBerry Company Profile

BlackBerry Limited provides enterprise software and services worldwide. The company 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 networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting services; and BBM Enterprise, an enterprise-grade instant messaging solution, as well as BlackBerry Spark Communication services.

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Analyst Recommendations for BlackBerry (NYSE:BB)

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