BlackBerry (BB) closed at $4.00 in the latest trading session, marking a -3.61% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.91%. Meanwhile, the Dow gained 1.43%, and the Nasdaq, a tech-heavy index, added 0.67%.
The cybersecurity software and services company's stock has dropped by 13.54% in the past month, falling short of the Computer and Technology sector's loss of 0.55% and the S&P 500's loss of 1.24%.
The upcoming earnings release of BlackBerry will be of great interest to investors. The company's upcoming EPS is projected at $0.04, signifying a 100.00% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.14 per share and a revenue of $529 million, indicating changes of +600% and -7.79%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for BlackBerry. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. BlackBerry is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BlackBerry is holding a Forward P/E ratio of 29.64. This denotes a premium relative to the industry average Forward P/E of 29.22.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 75, positioning it in the top 31% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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