BlackBerry (BB) to Release Earnings on Thursday

BlackBerry (NYSE:BB) will be posting its quarterly earnings results after the market closes on Thursday, September 26th. Analysts expect BlackBerry to post earnings of ($0.03) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

BlackBerry (NYSE:BB) last released its quarterly earnings data on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. The business had revenue of $144.00 million for the quarter, compared to analyst estimates of $132.05 million. During the same period in the previous year, the firm earned $0.04 EPS. The business’s revenue for the quarter was down 61.4% compared to the same quarter last year. On average, analysts expect BlackBerry to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

BlackBerry Price Performance

BlackBerry stock opened at $2.38 on Thursday. BlackBerry has a 52 week low of $2.01 and a 52 week high of $5.25. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.26. The firm’s 50-day simple moving average is $2.36 and its 200 day simple moving average is $2.61. The firm has a market capitalization of $1.41 billion, a PE ratio of -8.21 and a beta of 1.39.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price objective on shares of BlackBerry in a research report on Thursday, June 27th. Robert W. Baird reduced their target price 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. Raymond James reduced their target price on shares of BlackBerry from $5.50 to $4.75 and set a “market perform” rating on the stock in a report on Friday, June 28th. CIBC upgraded shares of BlackBerry from a “neutral” rating to a “sector outperform” rating and set a $3.50 target price on the stock in a report on Thursday, June 27th. Finally, Canaccord Genuity Group reduced their target price on shares of BlackBerry from $3.25 to $2.70 and set a “hold” rating on the stock in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, BlackBerry currently has a consensus rating of “Hold” and an average price target of $3.20.

Insider Buying and Selling

In related news, insider Mattias Eriksson sold 52,549 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $2.45, for a total transaction of $128,745.05. Following the completion of the sale, the insider now owns 214,440 shares of the company’s stock, valued at approximately $525,378. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.