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BlackBerry (BB) Stock Sinks As Market Gains: Here's Why
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BlackBerry (BB - Free Report) closed the most recent trading day at $9.40, moving -1.57% from the previous trading session. This move lagged the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.27%.
The cybersecurity software and services company's shares have seen an increase of 9.52% over the last month, surpassing the Computer and Technology sector's loss of 4.89% and the S&P 500's loss of 0.2%.
Market participants will be closely following the financial results of BlackBerry in its upcoming release. The company's upcoming EPS is projected at $0.05, signifying steadiness compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $148.5 million, reflecting a 4.72% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.21 per share and revenue of $628.84 million, indicating changes of +31.25% and +14.52%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for BlackBerry. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. BlackBerry is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, BlackBerry is currently trading at a Forward P/E ratio of 45.48. This indicates a premium in contrast to its industry's Forward P/E of 21.1.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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BlackBerry (BB) Stock Sinks As Market Gains: Here's Why
BlackBerry (BB - Free Report) closed the most recent trading day at $9.40, moving -1.57% from the previous trading session. This move lagged the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.19%, and the tech-heavy Nasdaq gained 0.27%.
The cybersecurity software and services company's shares have seen an increase of 9.52% over the last month, surpassing the Computer and Technology sector's loss of 4.89% and the S&P 500's loss of 0.2%.
Market participants will be closely following the financial results of BlackBerry in its upcoming release. The company's upcoming EPS is projected at $0.05, signifying steadiness compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $148.5 million, reflecting a 4.72% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.21 per share and revenue of $628.84 million, indicating changes of +31.25% and +14.52%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for BlackBerry. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. BlackBerry is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, BlackBerry is currently trading at a Forward P/E ratio of 45.48. This indicates a premium in contrast to its industry's Forward P/E of 21.1.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.