BlackBerry (TSE:BB) Hits New 52-Week High – Here’s Why

BlackBerry Limited (TSE:BB) (NASDAQ:BBRY)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$5.25 and last traded at C$5.21, with a volume of 6229547 shares traded. The stock had previously closed at C$4.28.

Analyst Upgrades and Downgrades

Separately, TD Securities upgraded shares of BlackBerry from a “hold” rating to a “strong-buy” rating in a research report on Friday.

BlackBerry Price Performance

The firm has a market capitalization of C$3.11 billion, a P/E ratio of -17.00, a price-to-earnings-growth ratio of 0.06 and a beta of 1.07. The company has a debt-to-equity ratio of 34.15, a quick ratio of 1.49 and a current ratio of 1.44. The business has a 50 day simple moving average of C$3.58 and a two-hundred day simple moving average of C$3.44.

BlackBerry (TSE:BB) (NASDAQ:BBRY) last announced its earnings results on Thursday, September 26th. The company reported C($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of C($0.05) by C$0.03. BlackBerry had a negative net margin of 21.66% and a negative return on equity of 17.68%. The business had revenue of C$198.60 million for the quarter. On average, sell-side analysts expect that BlackBerry Limited will post 0.0551903 EPS for the current fiscal year.

About BlackBerry

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.