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BlackBerry (BB) closed the most recent trading day at $4.16, moving -0.95% from the previous trading session. This move was narrower than the S&P 500's daily loss of 4.89%. At the same time, the Dow lost 5.86%, and the tech-heavy Nasdaq lost 4.7%.
Prior to today's trading, shares of the cybersecurity software and services company had lost 32.15% over the past month. This has lagged the Computer and Technology sector's loss of 13.39% and the S&P 500's loss of 13.88% in that time.
Wall Street will be looking for positivity from BB as it approaches its next earnings report date. In that report, analysts expect BB to post earnings of $0.04 per share. This would mark a year-over-year decline of 63.64%.
Investors might also notice recent changes to analyst estimates for BB. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. BB currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that BB has a Forward P/E ratio of 28.97 right now. For comparison, its industry has an average Forward P/E of 11.57, 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 group has a Zacks Industry Rank of 86, putting it in the top 34% 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.
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