Zacks: Brokerages Expect BlackBerry Ltd (BB) Will Announce Earnings of $0.01 Per Share

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Brokerages expect BlackBerry Ltd (NYSE:BB) to announce earnings of $0.01 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for BlackBerry’s earnings. The highest EPS estimate is $0.03 and the lowest is $0.00. BlackBerry reported earnings of $0.05 per share in the same quarter last year, which would suggest a negative year over year growth rate of 80%. The firm is expected to announce its next quarterly earnings report before the market opens on Friday, September 28th.

According to Zacks, analysts expect that BlackBerry will report full-year earnings of $0.05 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.11. For the next fiscal year, analysts forecast that the company will report earnings of $0.08 per share, with EPS estimates ranging from ($0.01) to $0.14. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow BlackBerry.

BlackBerry (NYSE:BB) last issued its quarterly earnings results on Friday, June 22nd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.06. BlackBerry had a positive return on equity of 3.91% and a negative net margin of 35.82%. The business had revenue of $217.00 million during the quarter, compared to analyst estimates of $209.56 million. During the same quarter in the prior year, the business posted $0.02 EPS. BlackBerry’s revenue for the quarter was down 11.1% compared to the same quarter last year.

A number of equities research analysts have issued reports on the company. MKM Partners cut their price target on BlackBerry from $13.50 to $12.00 and set a “neutral” rating for the company in a research note on Monday, June 25th. BMO Capital Markets cut their price target on BlackBerry from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday, June 25th. Canaccord Genuity cut their price target on BlackBerry from $11.00 to $10.50 and set a “hold” rating for the company in a research note on Monday, June 25th. Finally, Zacks Investment Research downgraded shares of BlackBerry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $11.85.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BB. Windward Capital Management Co. CA bought a new position in shares of BlackBerry in the 2nd quarter valued at about $109,000. Gabelli Funds LLC bought a new position in shares of BlackBerry in the 1st quarter valued at about $115,000. Campbell & CO Investment Adviser LLC bought a new position in shares of BlackBerry in the 2nd quarter valued at about $145,000. Personal Resources Investment & Strategic Management Inc. bought a new position in shares of BlackBerry in the 1st quarter valued at about $150,000. Finally, King Luther Capital Management Corp bought a new position in shares of BlackBerry in the 1st quarter valued at about $162,000. 56.29% of the stock is owned by institutional investors and hedge funds.

Shares of BB stock opened at $10.34 on Tuesday. BlackBerry has a 52-week low of $9.07 and a 52-week high of $14.55. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 206.80 and a beta of 1.43.

About BlackBerry

BlackBerry Limited operates as an enterprise software and services company focused on securing and managing endpoints in the Internet of Things. It 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 secure and networked crisis communications solution; SecuSUITE for Government, a voice encryption software solution; BlackBerry Enterprise Consulting and BlackBerry Cybersecurity Consulting; and BBM Enterprise, an enterprise-grade secure instant messaging solution, as well as Communications Platform as a Service.

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