Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Research In Motion Ltd. (
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
While this was all good news, none of it was unexpected. When you're talking about RIMM today, you're really comparing this company to Google (GOOG) and Apple (AAPL). The competition in RIMM's industry is intense, and will likely get even more so when Apple's blockbuster iPhone becomes available on Verizon.
RIMM sells most of its Blackberrys through Verizon. Will it be able to keep up with Apple? RIMM shipped about 14.2 million devices in the quarter, which was in-line with expectations. There were about 5.1 million net new BlackBerry® subscriber accounts added in the quarter, which was at the lower end of the expected range between 5 million and 5.4 million range.
As for the fiscal fourth quarter, Research In Motion forecasted earnings per share between $1.74 and $1.80, which is above the Zacks Consensus Estimate of $1.61. It also expects revenue of $5.5 billion to $5.7 billion.
The company is currently a Zacks #3 Rank (‘hold'). Earnings estimates of late have been inching a bit higher, but the agreement among analysts and magnitude of the revisions leave some to be desired – especially for a company that is as well-represented as RIMM.
All 13 of the earnings estimate revisions in the past 30 days for this fiscal year have been to the upside, which is certainly good news. However, there are 47 total estimates for the period ending February 2011; so nearly three-fourths of the analysts have been on the sidelines for a while now. Therefore, the Zacks Consensus Estimate of $6.08 per share is up only 3 cents in 30 days, or less than 1%.
But the outlook is up 8.6% over the past 3 months.
It's a similar story for next fiscal year, ending February 2012. Out of 45 total estimates, there have been 13 revisions to the upside in the past 30 days and 2 revisions to the downside. In this case though, that's enough to advance by nearly 1.3% to the current Zacks Consensus Estimate of $6.41 per share. There have also been 6 upward revisions in the past 7 days.
Over the past 3 months, the guidance is up 8.8%.
In our Earnings Preview for Research In Motion, we mentioned that the company had to deliver in its third quarter on all operating fronts (1) revenue (2) EPS (3) margins (4) number high-end BlackBerry phone shipment, or else face the possibility of hurting the stock price. We'll have a more in-depth look at this quarter coming up to see if this performance was enough to keep the company's momentum.
After hours, shares of the company are up more than 2%.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
GOOGLE INC-CL A (GOOG): Free Stock Analysis Report
RESEARCH IN MOT (RIMM): Free Stock Analysis Report
Zacks Investment Research
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.