BlackBerry (NYSE:BB) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

BlackBerry (NYSE:BB) posted its quarterly earnings results on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04, MarketWatch Earnings reports. BlackBerry had a positive return on equity of 0.82% and a negative net margin of 75.38%. The business had revenue of $214.00 million for the quarter, compared to analyst estimates of $215.58 million. During the same period last year, the company earned $0.01 EPS. BlackBerry’s revenue for the quarter was down 19.9% compared to the same quarter last year.

BB opened at $4.85 on Friday. The stock has a market cap of $2.73 billion, a PE ratio of -3.51 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $4.87 and a 200-day moving average of $5.13. BlackBerry has a 52 week low of $2.70 and a 52 week high of $8.33.

Several equities analysts recently issued reports on the company. MKM Partners reduced their price target on BlackBerry from $7.00 to $4.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Pi Financial reiterated a “neutral” rating on shares of BlackBerry in a research report on Monday. TD Securities lowered BlackBerry from a “buy” rating to a “hold” rating and cut their price objective for the stock from $8.00 to $5.00 in a research report on Wednesday, April 1st. Raymond James set a $7.50 price objective on BlackBerry and gave the stock a “market perform” rating in a research report on Thursday. Finally, Bank of America lifted their price objective on BlackBerry from $5.00 to $5.50 and gave the stock a “neutral” rating in a research report on Friday, June 12th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.86.

In other news, EVP Billy Ho bought 10,000 shares of the stock in a transaction dated Wednesday, April 8th. The stock was bought at an average price of $3.79 per share, for a total transaction of $37,900.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.56% of the company’s stock.

About BlackBerry

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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Earnings History for BlackBerry (NYSE:BB)

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