BlackBerry (BB) closed the latest trading day at $3.37, indicating a -0.88% change from the previous session's end. This change lagged the S&P 500's 0.63% gain on the day. At the same time, the Dow added 0.21%, and the tech-heavy Nasdaq gained 1.52%.
Heading into today, shares of the cybersecurity software and services company had gained 0.29% over the past month, lagging the Computer and Technology sector's gain of 1.66% and outpacing the S&P 500's loss of 0.7% in that time.
The upcoming earnings release of BlackBerry will be of great interest to investors. It is anticipated that the company will report an EPS of $0, marking a 100% rise compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.10 per share and a revenue of $521 million, representing changes of +400% and -9.19%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BlackBerry. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 100% higher. BlackBerry currently has a Zacks Rank of #1 (Strong Buy).
Looking at valuation, BlackBerry is presently trading at a Forward P/E ratio of 34. This represents a premium compared to its industry's average Forward P/E of 26.31.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 43% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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