BlackBerry (BB) closed the most recent trading day at $5.44, moving +0.55% from the previous trading session. This move outpaced the S&P 500’s daily loss of 0.32%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.4%.
Heading into today, shares of the cybersecurity software and services company had lost 2.17% over the past month, lagging the Computer and Technology sector’s gain of 2.58% and the S&P 500’s gain of 2.51% in that time.
Wall Street will be looking for positivity from BB as it approaches its next earnings report date. On that day, BB is projected to report earnings of $0.01 per share, which would represent a year-over-year decline of 66.67%.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.05 per share and revenue of $1.10 billion. These totals would mark changes of -79.17% and +19.65%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for BB. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. BB is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note BB’s current valuation metrics, including its Forward P/E ratio of 101.44. This valuation marks a premium compared to its industry’s average Forward P/E of 14.12.
The Wireless Non-US industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.