In the latest trading session, BlackBerry (BB - Free Report) closed at $6.78, marking a -1.02% move from the previous day. This change lagged the S&P 500's daily gain of 1.3%. At the same time, the Dow added 1.21%, and the tech-heavy Nasdaq gained 1.39%.
Coming into today, shares of the cybersecurity software and services company had lost 3.93% in the past month. In that same time, the Computer and Technology sector lost 4.48%, while the S&P 500 lost 4.84%.
Investors will be hoping for strength from BB as it approaches its next earnings release. On that day, BB is projected to report earnings of -$0.01 per share, which would represent a year-over-year decline of 125%.
BB's full-year Zacks Consensus Estimates are calling for earnings of $0.06 per share and revenue of $1.13 billion. These results would represent year-over-year changes of -75% and +22.95%, respectively.
It is also important to note the recent changes to analyst estimates for BB. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 50% higher. 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 120.88. Its industry sports an average Forward P/E of 13.77, so we one might conclude that BB is trading at a premium comparatively.
The Wireless Non-US industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 18% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.