Imperial Capital Cuts BlackBerry Ltd. (BBRY) Price Target to $8.25

Imperial Capital Cuts BlackBerry Ltd. (BBRY) Price Target to $8.25

BlackBerry Ltd. (NASDAQ:BBRY) (TSE:BB) had its price objective lowered by Imperial Capital from $8.50 to $8.25 in a report published on Thursday morning. Imperial Capital currently has an in-line rating on the smartphone producer’s stock.

BBRY has been the subject of a number of other research reports. Credit Suisse Group AG reiterated an underperform rating and issued a $6.00 target price on shares of BlackBerry in a research report on Wednesday, December 7th. Wells Fargo & Co. reiterated a positive rating and issued a $7.62 target price on shares of BlackBerry in a research report on Tuesday, August 30th. Zacks Investment Research upgraded shares of BlackBerry from a hold rating to a buy rating and set a $9.00 price target on the stock in a report on Monday, October 3rd. Vetr upgraded shares of BlackBerry from a buy rating to a strong-buy rating and set a $8.59 price target on the stock in a report on Tuesday, October 11th. Finally, TD Securities restated a buy rating and set a $9.00 price target on shares of BlackBerry in a report on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $7.85.

BlackBerry (NASDAQ:BBRY) opened at 7.02 on Thursday. The company’s market cap is $3.72 billion. BlackBerry has a 12 month low of $6.23 and a 12 month high of $9.46. The stock’s 50 day moving average is $7.48 and its 200 day moving average is $7.41.

BlackBerry (NASDAQ:BBRY) last released its earnings results on Tuesday, December 20th. The smartphone producer reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. BlackBerry had a negative net margin of 93.19% and a negative return on equity of 3.62%. The company earned $301 million during the quarter. During the same quarter in the previous year, the company earned ($0.03) EPS. The firm’s quarterly revenue was down 45.1% compared to the same quarter last year. Equities analysts predict that BlackBerry will post $0.03 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in BBRY. Bank of Montreal Can bought a new position in shares of BlackBerry during the second quarter worth $32,778,000. Connor Clark & Lunn Investment Management Ltd. increased 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 in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of BlackBerry during the third quarter worth $9,593,000. First Eagle Investment Management LLC bought a new position in shares of BlackBerry during the third quarter worth $8,414,000. Finally, Vanguard Group Inc. increased its position in shares of BlackBerry by 11.5% in the second quarter. Vanguard Group Inc. now owns 9,288,048 shares of the smartphone producer’s stock worth $62,323,000 after buying an additional 958,365 shares in the last quarter. 61.36% of the stock is owned by institutional investors.

About BlackBerry

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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