BlackBerry (BB - Free Report) closed the most recent trading day at $3.44, moving +1.78% from the previous trading session. The stock outpaced the S&P 500's daily loss of 2.93%. At the same time, the Dow lost 3.04%, and the tech-heavy Nasdaq lost 0.27%.
Coming into today, shares of the cybersecurity software and services company had lost 45.13% in the past month. In that same time, the Computer and Technology sector lost 29.2%, while the S&P 500 lost 31.71%.
Wall Street will be looking for positivity from BB as it approaches its next earnings report date. This is expected to be March 31, 2020. On that day, BB is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 63.64%.
Any recent changes to analyst estimates for BB should also be noted by investors. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate remained stagnant. BB is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that BB has a Forward P/E ratio of 23.31 right now. For comparison, its industry has an average Forward P/E of 10.22, which means BB is trading at a premium to the group.
The Wireless Non-US industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.