BlackBerry Ltd. (NASDAQ: BBRY) is scheduled to release its most recent quarterly results before the markets open on Thursday. The consensus estimates from Thomson Reuters are calling for breakeven earnings and $221.18 million in revenue. The fiscal second quarter of last year also had breakeven earnings, but on revenue of $352.0 million.
So far in 2017, BlackBerry actually has outperformed the U.S. broad markets, with the stock up over 32%. However, over the past 52 weeks the stock is only up about 17%.
In its most recent quarter, management noted that the company is better positioned to invest in its strategic areas of focus to drive long-term sustainable growth, while returning capital through share repurchases to further enhance shareholder value.
In the first quarter, BlackBerry made great progress strengthening its strategic position in emerging growth markets, most notably in cybersecurity and the Enterprise of Things. The firm secured key design wins in high-growth segments of automotive technology, including advanced driver assist, digital instrument cluster and its hypervisor solution.
At the same time, BlackBerry’s ecosystem is growing with Qualcomm and Nvidia adopting BlackBerry technology for their automotive platforms.
The stock was trading near multiyear highs right around the last earnings report. A strong showing in the latest report could push the stock back up to those levels.
A few analysts weighed in on BlackBerry ahead of the report:
- TD Securities has a Buy rating with an $11.50 price target.
- RBC has a Hold rating with a $9.50 price target.
- Merrill Lynch has an Underperform rating and an $8.00 price objective.
- Scotiabank has an Outperform rating with a $13.50 price target.
- Goldman Sachs has a Sell rating.
- William Blair has a Market Perform rating.
Shares of BlackBerry were last seen up about 1% at $9.25, with a consensus analyst price target of $9.71 and a 52-week range of $6.65 to $11.74.