BlackBerry Limited (BB) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of BlackBerry Limited (NYSE:BB) from a buy rating to a hold rating in a report issued on Monday morning.

According to Zacks, “BlackBerry Limited is involved in the design, manufacture and marketing of wireless solutions for the mobile communications market. Its integrated hardware, software and services provide platforms and solutions for seamless access to information which includes e-mail, voice, instant messaging, short message service, Internet and intranet-based applications and browsing. The company operates in North America, Europe, Asia Pacific and Latin America. BlackBerry Limited, formerly known as Research In Motion Limited, is headquartered in Waterloo, Canada. “

Several other brokerages also recently issued reports on BB. Canaccord Genuity lifted their price objective on BlackBerry Limited from $10.00 to $11.00 and gave the stock a hold rating in a research report on Tuesday, October 17th. Vetr downgraded BlackBerry Limited from a sell rating to a strong sell rating and set a $10.12 price objective for the company. in a research report on Wednesday, October 11th. TD Securities lifted their price objective on BlackBerry Limited from $11.50 to $12.00 and gave the stock a buy rating in a research report on Monday, October 2nd. Royal Bank Of Canada lifted their price objective on BlackBerry Limited from $9.50 to $10.50 and gave the stock a sector perform rating in a research report on Friday, September 29th. Finally, BMO Capital Markets restated a hold rating and set a $10.00 price objective on shares of BlackBerry Limited in a research report on Friday, September 29th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $9.70.

Shares of BlackBerry Limited (NYSE BB) opened at $10.38 on Monday. BlackBerry Limited has a 12-month low of $6.65 and a 12-month high of $11.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.17 and a current ratio of 5.19. The stock has a market cap of $5,479.15, a P/E ratio of 516.50 and a beta of 1.04.

BlackBerry Limited (NYSE:BB) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.06. BlackBerry Limited had a net margin of 7.98% and a return on equity of 2.77%. The company had revenue of $238.00 million during the quarter, compared to the consensus estimate of $221.21 million. BlackBerry Limited’s revenue was down 32.4% on a year-over-year basis. sell-side analysts anticipate that BlackBerry Limited will post -0.04 earnings per share for the current year.

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About BlackBerry Limited

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.

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