Blackline Safety (TSE:BLN) Hits New 12-Month High – Here’s What Happened

Blackline Safety Corp. (TSE:BLN)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$9.09 and last traded at C$9.08, with a volume of 42613 shares changing hands. The stock had previously closed at C$9.07.

Analysts Set New Price Targets

Several brokerages have weighed in on BLN. Raymond James Financial cut Blackline Safety from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from C$10.00 to C$9.38 in a research note on Friday, April 10th. Ventum Financial downgraded shares of Blackline Safety from a “buy” rating to a “tender” rating and upped their price target for the company from C$8.25 to C$9.00 in a report on Thursday, April 9th. TD downgraded shares of Blackline Safety from a “hold” rating to a “sell” rating and raised their price objective for the stock from C$8.00 to C$9.00 in a research note on Monday, April 13th. Finally, Royal Bank Of Canada downgraded shares of Blackline Safety from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$9.00 to C$9.25 in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Blackline Safety has an average rating of “Hold” and a consensus price target of C$9.27.

Blackline Safety Stock Performance

The firm has a market capitalization of C$791.31 million, a P/E ratio of -82.27 and a beta of 0.99. The firm has a 50-day moving average price of C$9.00 and a two-hundred day moving average price of C$7.65. The company has a debt-to-equity ratio of 17.76, a current ratio of 1.89 and a quick ratio of 3.09.

Blackline Safety (TSE:BLN) last posted its quarterly earnings results on Wednesday, June 10th. The company reported C($0.04) EPS for the quarter. The company had revenue of C$44.29 million during the quarter. Blackline Safety had a negative return on equity of 13.09% and a negative net margin of 6.11%. On average, analysts forecast that Blackline Safety Corp. will post -0.05 EPS for the current fiscal year.

Blackline Safety Company Profile

Blackline Safety Corp is a connected safety monitoring technology company. It provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations with coverage in more than 100 countries. Blackline Safety wearables provide a lifeline to tens of thousands of people, having reported over 161 billion data-points and initiated over five million emergency responses. Armed with cellular and satellite connectivity, the company ensure that help is never too far away.