In today’s recent session, 2.02 million shares of the BlackBerry Ltd (NYSE:BB) have been traded, and its beta is 1.41. Most recently the company’s share price was $2.32, and it changed around -$0.03 or -1.28% from the last close, which brings the market valuation of the company to $1.91B. BB at last check was trading at a discount to its 52-week high of $4.44, offering almost -91.38% off that amount. The share price’s 52-week low was $2.01, which indicates that the recent value has risen by an impressive 13.36% since then. We note from BlackBerry Ltd’s average daily trading volume that its 10-day average is 10.4 million shares, with the 3-month average coming to 7.93 million.
BlackBerry Ltd stock received a consensus recommendation rating of Hold, based on a mean score of 2.22. If we narrow it down even further, the data shows that 2 out of 17 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 10 recommended BB as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. BlackBerry Ltd is expected to report earnings per share of -0.01 for the current quarter.
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BlackBerry Ltd (NYSE:BB) trade information
Instantly BB has been showing red trend so far today with a performance of -1.28% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 2.47 on recent trading dayincreased the stock’s daily price by 6.07%. The company’s shares are currently down -34.46% year-to-date, but still down -4.92% over the last five days. On the other hand, BlackBerry Ltd (NYSE:BB) is -10.77% down in the 30-day period. We can see from the shorts that 26.98 million shares have been sold at a short interest cover period of 3.15 day(s).
The consensus price target as assigned by Wall Street analysts is $3.88, which translates to bulls needing to increase their stock price by 40.21% from its current value. Analyst projections state that BB is forecast to be at a low of $2.8 and a high of $6.5.
BlackBerry Ltd (BB) estimates and forecasts
BlackBerry Ltd share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -22.15 percent over the past six months and at a -140.00% annual growth rate that is well below the industry average of 17.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -186.90% in revenue this quarter, and will report a decrease of -53.53% in the next quarter. The year-over-year growth rate is expected to be -29.31%, down from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of 149.98M in revenue for the current quarter. 4 analysts expect BlackBerry Ltd to make 161.47M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 175M and 173M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -14.30%. Forecasts for the next quarter put sales growth at -6.67%.
BlackBerry Ltd earnings are expected to increase by -165.71% in 2024, but the outlook is positive 19.80% per year for the next five years.
BB Dividends
BlackBerry Ltd’s next quarterly earnings report is expected to be released in December.
BlackBerry Ltd (NYSE:BB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.70% of BlackBerry Ltd shares, and 46.33% of them are in the hands of institutional investors. The stock currently has a share float of 47.13%. BlackBerry Ltd stock is held by 295.0 institutions, with FAIRFAX FINANCIAL HOLDINGS LTD/ CAN being the largest institutional investor. By 2024-06-30, it held 7.9218% of the shares, which is about 46.72 million shares worth $116.34 million.
PRIMECAP MANAGEMENT CO/CA/, with 5.6509% or 33.33 million shares worth $82.66 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Global X Fds-Global X Cybersecurity ETF and Vanguard/Primecap Fund were the top two Mutual Funds as of Sep 30, 2024. The former held 11.38 shares worth $26.35 million, making up 1.92% of all outstanding shares. On the other hand, Vanguard/Primecap Fund held roughly 9.98 shares worth around $23.09 million, which represents about 1.69% of the total shares outstanding.
