BlackBerry (BB) ended the recent trading session at $3.66, demonstrating a -2.4% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.59%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, lost 1.46%.
Prior to today's trading, shares of the cybersecurity software and services company had lost 3.35% lagged the Computer and Technology sector's gain of 3.91% and the S&P 500's gain of 2.49%.
Analysts and investors alike will be keeping a close eye on the performance of BlackBerry in its upcoming earnings disclosure. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $125 million, down 13.79% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.1 per share and a revenue of $525.5 million, representing changes of +400% and -8.4%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for BlackBerry. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, BlackBerry possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BlackBerry has a Forward P/E ratio of 37.5 right now. This indicates a premium in contrast to its industry's Forward P/E of 29.47.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 32% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
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BlackBerry Limited (BB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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