BlackBerry (NYSE:BB) Updates Q1 Earnings Guidance

BlackBerry (NYSE:BBGet Free Report) updated its first quarter earnings guidance on Wednesday. The company provided EPS guidance of $(0.06)-$(0.04) for the period, compared to the consensus EPS estimate of ($0.03). The company issued revenue guidance of $130-138 million, compared to the consensus revenue estimate of $149.08 million. BlackBerry also updated its FY 2025 guidance to -0.070–0.030 EPS.

Wall Street Analysts Forecast Growth

BB has been the topic of a number of recent analyst reports. Canaccord Genuity Group lowered their target price on BlackBerry from $5.00 to $4.25 and set a hold rating on the stock in a research note on Thursday, December 21st. StockNews.com cut BlackBerry from a hold rating to a sell rating in a research note on Wednesday, February 21st. CIBC lowered their price objective on BlackBerry from $4.25 to $3.50 and set a neutral rating on the stock in a research note on Wednesday, February 14th. Robert W. Baird lowered their price objective on BlackBerry from $4.50 to $3.50 and set a neutral rating on the stock in a research note on Wednesday, February 14th. Finally, Raymond James lowered their price objective on BlackBerry from $7.00 to $6.50 and set a market perform rating on the stock in a research note on Thursday, December 21st. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $4.08.

Read Our Latest Research Report on BlackBerry

BlackBerry Stock Performance

BB traded up $0.01 during midday trading on Wednesday, hitting $2.81. The stock had a trading volume of 10,550,255 shares, compared to its average volume of 9,562,382. The company has a market cap of $1.65 billion, a P/E ratio of -2.83 and a beta of 1.41. The business has a fifty day moving average of $2.77 and a 200 day moving average of $3.44. BlackBerry has a 1 year low of $2.46 and a 1 year high of $5.75.

BlackBerry (NYSE:BBGet Free Report) last announced its earnings results on Wednesday, April 3rd. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. The company had revenue of $173.00 million during the quarter, compared to the consensus estimate of $150.47 million. BlackBerry had a negative return on equity of 4.27% and a negative net margin of 68.47%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) earnings per share. On average, equities research analysts anticipate that BlackBerry will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other BlackBerry news, Director Philip G. Brace bought 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average price of $2.79 per share, with a total value of $97,650.00. Following the purchase, the director now owns 35,000 shares of the company’s stock, valued at $97,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO John Joseph Giamatteo sold 18,279 shares of the company’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $3.23, for a total transaction of $59,041.17. Following the transaction, the chief executive officer now directly owns 206,090 shares of the company’s stock, valued at approximately $665,670.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Philip G. Brace purchased 35,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were purchased at an average price of $2.79 per share, for a total transaction of $97,650.00. Following the purchase, the director now owns 35,000 shares in the company, valued at approximately $97,650. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 44,090 shares of company stock valued at $142,812. Insiders own 1.94% of the company’s stock.

Institutional Trading of BlackBerry

A number of hedge funds have recently modified their holdings of the stock. CIBC Asset Management Inc raised its holdings in shares of BlackBerry by 0.6% during the second quarter. CIBC Asset Management Inc now owns 487,646 shares of the company’s stock valued at $2,704,000 after acquiring an additional 2,821 shares during the last quarter. FMR LLC raised its holdings in shares of BlackBerry by 11.7% during the second quarter. FMR LLC now owns 27,322 shares of the company’s stock valued at $147,000 after acquiring an additional 2,851 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of BlackBerry by 3.9% during the second quarter. Alliancebernstein L.P. now owns 97,366 shares of the company’s stock valued at $538,000 after acquiring an additional 3,688 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of BlackBerry by 17.1% during the third quarter. Commonwealth Equity Services LLC now owns 26,640 shares of the company’s stock valued at $125,000 after acquiring an additional 3,892 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of BlackBerry by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 385,692 shares of the company’s stock valued at $1,370,000 after purchasing an additional 3,925 shares during the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

BlackBerry Company Profile

(Get Free Report)

BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylancePROTECT, an endpoint protection platform and mobile threat defense solution; CylanceOPTICS, an endpoint detection and response solution; CylanceGUARD, a managed detection and response solution; CylanceGATEWAY, an AI-empowered zero-trust network access solution; CylancePERSONA, a user and entity behavior analytics solution; BlackBerry unified endpoint management, a central software component for secure communications platform; BlackBerry Dynamics, a development platform and secure container for mobile applications; and BlackBerry Workspaces solutions.

Further Reading

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