BlackBerry (BB) Dips More Than Broader Markets: What You Should Know
In the latest trading session, BlackBerry (BB) closed at $4.41, marking a -1.12% move from the previous day. This move lagged the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.67%.
Heading into today, shares of the cybersecurity software and services company had gained 26.7% over the past month, outpacing the Computer and Technology sector's gain of 17.44% and the S&P 500's gain of 8.32% in that time.
BlackBerry will be looking to display strength as it nears its next earnings release. On that day, BlackBerry is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 800%. Meanwhile, our latest consensus estimate is calling for revenue of $172.28 million, down 6.88% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.21 per share and revenue of $677.14 million. These totals would mark changes of -110% and -5.69%, respectively, from last year.
Any recent changes to analyst estimates for BlackBerry should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. BlackBerry currently has a Zacks Rank of #2 (Buy).
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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