BlackBerry (BB) ended the recent trading session at $8.73, demonstrating a -1.91% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.52%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.32%.
Coming into today, shares of the cybersecurity software and services company had lost 1% in the past month. In that same time, the Computer and Technology sector gained 1.99%, while the S&P 500 gained 3.3%.
The investment community will be paying close attention to the earnings performance of BlackBerry in its upcoming release. The company is expected to report EPS of $0.04, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $143 million, up 10.34% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.17 per share and revenue of $612.37 million, indicating changes of +6.25% and +11.52%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BlackBerry. Recent revisions tend to reflect the latest near-term business trends. 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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. BlackBerry currently has a Zacks Rank of #2 (Buy).
Looking at valuation, BlackBerry is presently trading at a Forward P/E ratio of 52.35. This expresses a premium compared to the average Forward P/E of 21.52 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 86, placing it within the top 35% of over 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.
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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