BlackBerry (NYSE:BB) Issues Q3 Earnings Guidance

by · The Markets Daily

BlackBerry (NYSE:BB – Get Free Report) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $(0.01)-$0.01 for the period, compared to the consensus estimate of ($0.01). The company issued revenue guidance of $146-154 million, compared to the consensus revenue estimate of $149.98 million. BlackBerry also updated its FY 2025 guidance to -0.050–0.020 EPS.

Analyst Upgrades and Downgrades

Several analysts recently commented on BB shares. Robert W. Baird reduced their price target on shares of BlackBerry from $3.50 to $3.00 and set a neutral rating for the company in a research report on Thursday, June 27th. Canaccord Genuity Group decreased their target price on shares of BlackBerry from $3.25 to $2.70 and set a hold rating for the company in a research note on Thursday, June 27th. CIBC upgraded BlackBerry from a neutral rating to a sector outperform rating and set a $3.50 price target on the stock in a research report on Thursday, June 27th. Royal Bank of Canada reiterated a sector perform rating and set a $3.00 target price on shares of BlackBerry in a research report on Thursday, June 27th. Finally, Raymond James decreased their price objective on shares of BlackBerry from $5.50 to $4.75 and set a market perform rating on the stock in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $3.20.

Read Our Latest Stock Analysis on BB

BlackBerry Trading Up 6.5 %

Shares of NYSE BB opened at $2.55 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -8.78 and a beta of 1.39. BlackBerry has a 12-month low of $2.01 and a 12-month high of $4.94. The stock’s 50 day simple moving average is $2.35 and its 200 day simple moving average is $2.60.

BlackBerry (NYSE:BB – Get Free Report) last released its quarterly earnings results on Wednesday, June 26th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $144.00 million for the quarter, compared to the consensus estimate of $132.05 million. BlackBerry had a negative net margin of 25.80% and a negative return on equity of 6.43%. BlackBerry’s revenue was down 61.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS. Equities research analysts expect that BlackBerry will post -0.09 EPS for the current year.

About BlackBerry

(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 CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions.

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