BlackBerry (NYSE:BB) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

BlackBerry (NYSE:BB) released its earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03, RTT News reports. The firm had revenue of $143.00 million during the quarter, compared to analyst estimates of $144.84 million. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 3.38%. The business’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the business earned $0.01 EPS.

BlackBerry Stock Down 1.0 %

Shares of BB stock traded down $0.03 on Thursday, hitting $2.98. The stock had a trading volume of 20,702,389 shares, compared to its average volume of 9,563,922. BlackBerry has a one year low of $2.01 and a one year high of $4.27. The business has a 50 day moving average price of $2.52 and a 200 day moving average price of $2.45. The company has a market cap of $1.76 billion, a PE ratio of -11.92 and a beta of 1.43. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.27.

Insiders Place Their Bets

In related news, insider Philip S. Kurtz sold 15,005 shares of the company’s stock in a transaction on Saturday, September 28th. The stock was sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the sale, the insider now directly owns 30,129 shares in the company, valued at $76,226.37. This represents a 33.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. CIBC upped their target price on BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their target price on BlackBerry from $3.00 to $3.25 and gave the stock a “sector perform” rating in a research note on Tuesday. StockNews.com upgraded BlackBerry from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Canaccord Genuity Group upped their price target on shares of BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, TD Securities lifted their price objective on shares of BlackBerry from $2.75 to $3.25 and gave the company a “hold” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.34.

BlackBerry Company Profile

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.