BlackBerry Ltd. (NASDAQ:BBRY) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of ($0.05)-0.00 for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.16).
BlackBerry Ltd. (NASDAQ:BBRY) opened at 7.88 on Wednesday. The firm’s 50-day moving average is $7.78 and its 200 day moving average is $7.29. The firm’s market capitalization is $4.12 billion. BlackBerry Ltd. has a 12 month low of $5.99 and a 12 month high of $9.46.
BlackBerry (NASDAQ:BBRY) last announced its quarterly earnings results on Wednesday, September 28th. The smartphone producer reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. BlackBerry had a negative net margin of 49.74% and a negative return on equity of 4.49%. The firm earned $352 million during the quarter, compared to the consensus estimate of $393.75 million. During the same period last year, the firm earned ($0.13) EPS. The business’s quarterly revenue was down 28.2% compared to the same quarter last year. On average, analysts expect that BlackBerry Ltd. will post ($0.15) EPS for the current fiscal year.
BBRY has been the subject of several analyst reports. Zacks Investment Research raised shares of BlackBerry from a hold rating to a buy rating and set a $7.50 price target for the company in a report on Tuesday, July 19th. TD Securities reissued a buy rating and issued a $9.00 price target on shares of BlackBerry in a report on Monday, August 29th. MKM Partners reissued a hold rating on shares of BlackBerry in a report on Sunday, June 26th. Deutsche Bank AG reissued a hold rating on shares of BlackBerry in a report on Monday, June 27th. Finally, BMO Capital Markets reissued a hold rating and issued a $8.00 price target on shares of BlackBerry in a report on Wednesday, June 22nd. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $7.58.
Several hedge funds and other institutional investors have recently modified their holdings of BBRY. Cubist Systematic Strategies LLC increased its position in shares of BlackBerry by 37.5% in the second quarter. Cubist Systematic Strategies LLC now owns 35,900 shares of the smartphone producer’s stock valued at $241,000 after buying an additional 9,790 shares in the last quarter. Guggenheim Capital LLC boosted its position in BlackBerry by 6.5% in the second quarter. Guggenheim Capital LLC now owns 128,335 shares of the smartphone producer’s stock valued at $861,000 after buying an additional 7,786 shares during the last quarter. Clinton Group Inc. boosted its position in BlackBerry by 13.2% in the second quarter. Clinton Group Inc. now owns 54,992 shares of the smartphone producer’s stock valued at $369,000 after buying an additional 6,417 shares during the last quarter. Spark Investment Management LLC boosted its position in BlackBerry by 121.3% in the second quarter. Spark Investment Management LLC now owns 359,000 shares of the smartphone producer’s stock valued at $2,408,000 after buying an additional 196,800 shares during the last quarter. Finally, Andra AP fonden boosted its position in BlackBerry by 2.5% in the second quarter. Andra AP fonden now owns 130,500 shares of the smartphone producer’s stock valued at $1,131,000 after buying an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 57.99% of the company’s stock.
BlackBerry Company Profile
BlackBerry Limited (BlackBerry) provides mobile communications solutions. The Company is engaged in the sale of smartphones and enterprise software and services. The Company’s products and services include Enterprise Solutions and Services, Devices, BlackBerry Technology Solutions and Messaging. It is engaged in providing enterprise mobility management (EMM) and mobile security, and offers a portfolio of enterprise software solutions and services that can be deployed across a range of ecosystems and devices, including BlackBerry Enterprise Service (BES) 12 and Good Platforms, BES12 Cloud, enterprise file-sync-and-share (EFSS), SecuSUITE for Enterprise, Enhanced subscriber identity module (SIM)-Based Licensing (ESBL), WorkLife by BlackBerry solution and Professional Cybersecurity Services.
Receive News & Ratings for BlackBerry Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackBerry Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.