Equities analysts expect BlackBerry Ltd (NYSE:BB) to report $206.36 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for BlackBerry’s earnings. The lowest sales estimate is $200.72 million and the highest is $212.00 million. BlackBerry reported sales of $244.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 15.4%. The company is expected to report its next earnings report on Friday, June 22nd.
According to Zacks, analysts expect that BlackBerry will report full-year sales of $880.29 million for the current year, with estimates ranging from $856.14 million to $894.00 million. For the next fiscal year, analysts forecast that the business will report sales of $940.27 million per share, with estimates ranging from $922.78 million to $953.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover BlackBerry.
Get BlackBerry alerts:BlackBerry (NYSE:BB) last released its quarterly earnings data on Wednesday, March 28th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. The firm had revenue of $239.00 million during the quarter, compared to the consensus estimate of $217.88 million. BlackBerry had a net margin of 43.46% and a return on equity of 3.70%. The business’s quarterly revenue was down 16.4% on a year-over-year basis.
BB has been the topic of a number of recent research reports. Vetr upgraded BlackBerry from a “sell” rating to a “hold” rating and set a $10.20 target price on the stock in a research note on Monday, April 9th. Canaccord Genuity reiterated a “hold” rating and issued a $11.00 target price on shares of BlackBerry in a research note on Thursday, March 29th. Raymond James reiterated a “market perform” rating and issued a $11.00 target price on shares of BlackBerry in a research note on Thursday, March 29th. MKM Partners raised their target price on BlackBerry and gave the company a “neutral” rating in a research note on Thursday, March 29th. Finally, Zacks Investment Research upgraded BlackBerry from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, April 3rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.80.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Iridian Asset Management LLC CT bought a new stake in shares of BlackBerry during the first quarter valued at about $165,353,000. Ontario Teachers Pension Plan Board bought a new stake in shares of BlackBerry during the first quarter valued at about $119,413,000. Royal Bank of Canada bought a new stake in shares of BlackBerry during the first quarter valued at about $80,818,000. CIBC World Markets Inc. bought a new stake in shares of BlackBerry during the first quarter valued at about $67,346,000. Finally, First Eagle Investment Management LLC bought a new stake in shares of BlackBerry during the first quarter valued at about $54,613,000. Institutional investors and hedge funds own 57.58% of the company’s stock.
BlackBerry stock traded up $0.18 during mid-day trading on Tuesday, reaching $11.75. The company’s stock had a trading volume of 2,418,500 shares, compared to its average volume of 5,557,430. The company has a market cap of $6.23 billion, a PE ratio of 235.00 and a beta of 1.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.49 and a quick ratio of 5.48. BlackBerry has a twelve month low of $8.47 and a twelve month high of $14.55.
About BlackBerry
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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