Raymond James Analysts Cut Earnings Estimates for Blackline Safety Corp. (CVE:BLN)

Blackline Safety Corp. (CVE:BLNGet Rating) – Stock analysts at Raymond James cut their Q3 2022 earnings per share estimates for Blackline Safety in a report released on Tuesday, June 14th. Raymond James analyst B. Fast now forecasts that the company will earn ($0.16) per share for the quarter, down from their previous estimate of ($0.11). Raymond James currently has a “Outperform” rating and a $10.00 target price on the stock. The consensus estimate for Blackline Safety’s current full-year earnings is ($0.05) per share. Raymond James also issued estimates for Blackline Safety’s Q4 2022 earnings at ($0.05) EPS, FY2022 earnings at ($0.66) EPS and FY2023 earnings at ($0.11) EPS.

Blackline Safety (CVE:BLNGet Rating) last issued its quarterly earnings data on Wednesday, March 16th. The company reported C($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.09) by C($0.12). The company had revenue of C$15.67 million during the quarter, compared to analyst estimates of C$15.51 million.

A number of other brokerages also recently commented on BLN. Canaccord Genuity Group cut their price objective on Blackline Safety from C$9.00 to C$8.50 in a research report on Thursday, March 17th. National Bankshares reduced their target price on Blackline Safety from C$10.00 to C$9.00 and set an “outperform” rating for the company in a report on Thursday, March 17th. Pi Financial reduced their target price on Blackline Safety from C$11.00 to C$7.50 in a report on Wednesday, May 25th. Finally, TD Securities reduced their target price on Blackline Safety from C$10.50 to C$9.00 and set a “speculative buy” rating for the company in a report on Friday, June 3rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$8.80.

Shares of CVE BLN opened at C$8.92 on Friday. The stock has a fifty day moving average price of C$8.92 and a two-hundred day moving average price of C$8.92. The company has a debt-to-equity ratio of 2.72, a quick ratio of 3.09 and a current ratio of 3.72. The firm has a market cap of C$484.79 million and a P/E ratio of -42.88. Blackline Safety has a 1 year low of C$4.60 and a 1 year high of C$9.09.

In other Blackline Safety news, insider DAK Capital Inc. bought 10,000 shares of the stock in a transaction on Tuesday, May 24th. The shares were purchased at an average cost of C$4.29 per share, with a total value of C$42,850.00. Following the completion of the transaction, the insider now directly owns 12,619,064 shares of the company’s stock, valued at approximately C$54,072,689.24. Also, Director Cody Slater bought 5,900 shares of the stock in a transaction on Monday, May 16th. The shares were acquired at an average cost of C$4.31 per share, for a total transaction of C$25,429.00. Following the completion of the transaction, the director now directly owns 1,463,790 shares of the company’s stock, valued at C$6,308,934.90. Over the last quarter, insiders have purchased 40,900 shares of company stock valued at $175,477.

About Blackline Safety (Get Rating)

Blackline Safety Corp., a global connected safety technology company, develops, manufactures, and markets worker safety monitoring products and services in Canada, the United States, Europe, Australia, New Zealand, and internationally. The company offers connected safety devices, including G7c, a safety wearable for indoor and outdoor locations covered by 3G wireless; G7x, a safety wearable for remote locations; G7 EXO, a cloud connected area monitor; G7 Dock, an accessory product used to calibrate G7c and G7x devices; standard cartridge for lone worker monitoring; diffusion cartridge for gas detection; pump cartridge for confined space entry and leak check gas detection services; and cloud-connected sensors that helps to customize gas detectors at work environments, as well as automated industrial contact tracing solutions.

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Earnings History and Estimates for Blackline Safety (CVE:BLN)

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