Imperial Capital Brokers Lift Earnings Estimates for BlackBerry Ltd (BBRY)

BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) – Stock analysts at Imperial Capital boosted their Q1 2018 earnings estimates for BlackBerry in a research note issued on Monday, Zacks Investment Research reports. Imperial Capital analyst M. Kim now expects that the smartphone producer will post earnings per share of ($0.03) for the quarter, up from their previous estimate of ($0.04). Imperial Capital currently has a “In-Line” rating and a $8.25 target price on the stock. Imperial Capital also issued estimates for BlackBerry’s FY2018 earnings at ($0.07) EPS.

BlackBerry (NASDAQ:BBRY) last issued its quarterly earnings data on Friday, March 31st. The smartphone producer reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. BlackBerry had a negative net margin of 93.19% and a negative return on equity of 3.62%. The business earned $297 million during the quarter, compared to analysts’ expectations of $288.45 million. During the same quarter in the previous year, the company earned ($0.03) EPS. The business’s revenue was down 39.0% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “Imperial Capital Brokers Lift Earnings Estimates for BlackBerry Ltd (BBRY)” was originally posted by BBNS and is the property of of BBNS. If you are reading this article on another domain, it was illegally copied and republished in violation of United States and international copyright law. The legal version of this article can be accessed at https://baseballnewssource.com/markets/q1-2018-earnings-estimate-for-blackberry-ltd-issued-by-imperial-capital-bbry-updated-updated/580573.html.

Earnings History and Estimates for BlackBerry (NASDAQ:BBRY)

A number of other brokerages have also weighed in on BBRY. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of BlackBerry in a research report on Wednesday, April 12th. Canaccord Genuity set a $10.00 price target on shares of BlackBerry and gave the stock a “hold” rating in a report on Wednesday, April 12th. William Blair reissued a “market perform” rating on shares of BlackBerry in a report on Wednesday, April 19th. BMO Capital Markets increased their price target on shares of BlackBerry from $8.00 to $9.00 and gave the stock a “market perform” rating in a report on Monday, April 17th. Finally, Zacks Investment Research raised shares of BlackBerry from a “hold” rating to a “strong-buy” rating and set a $9.00 price target on the stock in a report on Wednesday, April 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. BlackBerry currently has a consensus rating of “Hold” and an average target price of $8.63.

Shares of BlackBerry (NASDAQ:BBRY) opened at 9.25 on Thursday. The firm’s market cap is $4.91 billion. The firm has a 50-day moving average of $8.18 and a 200 day moving average of $7.48. BlackBerry has a 52 week low of $6.23 and a 52 week high of $9.40.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Iridian Asset Management LLC CT boosted its position in shares of BlackBerry by 45.3% in the fourth quarter. Iridian Asset Management LLC CT now owns 20,935,089 shares of the smartphone producer’s stock worth $144,243,000 after buying an additional 6,525,809 shares during the last quarter. Norges Bank acquired a new position in shares of BlackBerry during the fourth quarter worth approximately $24,556,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of BlackBerry by 13.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,487,443 shares of the smartphone producer’s stock worth $107,345,000 after buying an additional 1,604,050 shares during the last quarter. Wynnefield Capital Inc. purchased a new position in shares of BlackBerry during the fourth quarter valued at about $5,409,000. Finally, Sei Investments Co. purchased a new position in shares of BlackBerry during the third quarter valued at about $5,217,000. Institutional investors and hedge funds own 62.41% 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.

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