Raymond James Analysts Give Blackline Safety (BLN) a C$7.50 Price Target

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Blackline Safety (CVE:BLN) received a C$7.50 price target from stock analysts at Raymond James in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 20.97% from the company’s current price.

CVE BLN traded up C$0.19 on Wednesday, hitting C$6.20. 270 shares of the company’s stock were exchanged, compared to its average volume of 25,211. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.32 and a quick ratio of 4.54. Blackline Safety has a 52 week low of C$4.53 and a 52 week high of C$6.74. The stock has a market capitalization of $283.36 million and a PE ratio of -28.70.

Blackline Safety (CVE:BLN) last released its earnings results on Thursday, March 28th. The company reported C($0.04) earnings per share for the quarter, topping the consensus estimate of C($0.06) by C$0.02. The business had revenue of C$6.23 million for the quarter, compared to the consensus estimate of C$4.57 million. As a group, sell-side analysts expect that Blackline Safety will post 0.0500000040322584 earnings per share for the current year.

In other news, Senior Officer Kevin Joseph Meyers sold 7,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$5.60, for a total value of C$39,200.00. Following the completion of the transaction, the insider now directly owns 28,319 shares in the company, valued at approximately C$158,586.40.

About Blackline Safety

Blackline Safety Corp., a global connected safety technology company, develops, manufactures, and markets products and services for worker safety monitoring in Canada, the United States, Europe, Australia, New Zealand, and internationally. The company offers G7c, a safety monitoring device for indoor and outdoor locations covered by 3G wireless; G7x, a safety monitoring device for remote locations that are not covered by 3G wireless; standard cartridge for lone worker monitoring, single-gas cartridge for gas detection scenarios requiring only a single sensor, and multi-gas diffusion and pump cartridges for gas detection scenarios requiring up to five sensors; G7 Bridge, a portable satellite base station for remote locations, communicates with G7x; and G7 Dock, an accessory product used to calibrate G7c and G7x devices periodically while also offering frequent testing to prove that gas sensors are fully functional.

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