Brokerages Expect BlackBerry Ltd (NYSE:BB) to Announce $0.04 EPS

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Wall Street analysts expect BlackBerry Ltd (NYSE:BB) to announce $0.04 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for BlackBerry’s earnings, with estimates ranging from $0.04 to $0.05. BlackBerry reported earnings per share of $0.11 in the same quarter last year, which would suggest a negative year-over-year growth rate of 63.6%. The company is scheduled to announce its next quarterly earnings report on Friday, April 3rd.

On average, analysts expect that BlackBerry will report full year earnings of $0.07 per share for the current year, with EPS estimates ranging from $0.04 to $0.08. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.10 per share, with EPS estimates ranging from $0.03 to $0.19. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover BlackBerry.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Friday, December 20th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. BlackBerry had a negative net margin of 5.92% and a positive return on equity of 0.89%. The company had revenue of $280.00 million during the quarter, compared to analysts’ expectations of $276.31 million. During the same period last year, the company posted $0.05 EPS. BlackBerry’s revenue was up 22.8% on a year-over-year basis.

Several research analysts have issued reports on BB shares. Royal Bank of Canada decreased their target price on shares of BlackBerry from $9.00 to $7.50 and set a “sector perform” rating for the company in a report on Wednesday, September 25th. Scotiabank cut shares of BlackBerry from an “outperform” rating to a “sector perform” rating and set a $7.50 target price for the company. in a report on Tuesday, September 24th. Bank of America raised shares of BlackBerry from an “underperform” rating to a “neutral” rating in a report on Monday, November 4th. Macquarie decreased their target price on shares of BlackBerry from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Finally, Raymond James set a $9.50 target price on shares of BlackBerry and gave the stock a “market perform” rating in a report on Wednesday, September 25th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. BlackBerry has a consensus rating of “Hold” and a consensus target price of $7.50.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BB. Invesco Ltd. raised its holdings in shares of BlackBerry by 1,306.5% during the second quarter. Invesco Ltd. now owns 11,969,830 shares of the company’s stock valued at $89,296,000 after purchasing an additional 11,118,807 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of BlackBerry by 43.9% during the second quarter. Renaissance Technologies LLC now owns 6,099,087 shares of the company’s stock valued at $45,499,000 after purchasing an additional 1,860,044 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of BlackBerry during the second quarter valued at approximately $11,563,000. ARS Investment Partners LLC raised its holdings in shares of BlackBerry by 5,783.8% during the second quarter. ARS Investment Partners LLC now owns 1,217,950 shares of the company’s stock valued at $9,086,000 after purchasing an additional 1,197,250 shares during the last quarter. Finally, AXA raised its holdings in shares of BlackBerry by 23.8% during the second quarter. AXA now owns 4,916,590 shares of the company’s stock valued at $36,678,000 after purchasing an additional 944,746 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

BlackBerry stock traded down $0.02 during trading hours on Thursday, hitting $6.66. The stock had a trading volume of 6,363,800 shares, compared to its average volume of 5,815,650. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.69 billion, a P/E ratio of 51.23 and a beta of 1.80. BlackBerry has a 12-month low of $4.86 and a 12-month high of $10.29. The stock’s 50-day moving average price is $5.89 and its 200-day moving average price is $6.37.

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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