The Anticipated Earnings
BlackBerry Limited BB is gearing up to unveil its fourth-quarter earnings post the closing bell on April 3, 2024.
It is predicted that the company based in Waterloo, Canada, will announce a quarterly loss of 3 cents per share, a slight increase from the 2 cents per share loss reported a year ago. Analysts are expecting quarterly revenue to reach $154.78 million, up from $151 million in the corresponding quarter of the prior year, based on insights from Benzinga Pro.
Business Developments
In a recent development, BlackBerry inaugurated a Cybersecurity Center of Excellence (CCoE) in Kuala Lumpur. The ceremony was graced by Malaysia’s Prime Minister Anwar Ibrahim, Canada’s Minister of Export Promotion, International Trade and Economic Development Mary Ng, and BlackBerry CEO John Giamatteo.
Following this news, BlackBerry shares closed 3.7% higher at $2.80 on Tuesday.
Analysts’ Forecasts
A peek into the recent period shows how some of Benzinga’s most accurate analysts have rated the company:
- RBC Capital analyst Paul Treiber kept a Sector Perform rating and revised the price target from $4 to $3 on Feb. 14, 2024 with an accuracy rate of 61%.
- TD Securities analyst Daniel Chan maintained a Hold rating and adjusted the price target from $5 to $4 on Oct. 5, 2023, boasting an accuracy rate of 74%.
- CIBC analyst Todd Coupland upgraded the stock from Underperformer to Neutral and lifted the price target from $4.2 to $6.5 on May 18, 2023, with an accuracy rate of 65%.
- Canaccord Genuity analyst Michael Walkley retained a Hold rating and increased the price target from $4 to $5.5 on May 18, 2023, showcasing an accuracy rate of 76%.
Stay tuned for the imminent earnings report, as BlackBerry charts its financial course against the forecasts and industry backdrop.
