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BlackBerry (BB) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2-min read

BlackBerry (BB) closed the most recent trading day at $10.83, moving -1.9% from the previous trading session. This move lagged the S&P 500's daily gain of 0.18%.

Prior to today's trading, shares of the cybersecurity software and services company had gained 8.88% over the past month. This has outpaced the Computer and Technology sector's loss of 1.76% and the S&P 500's gain of 2.96% in that time.

Investors will be hoping for strength from BB as it approaches its next earnings release. On that day, BB is projected to report earnings of -$0.06 per share, which would represent a year-over-year decline of 400%.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.20 per share and revenue of $734 million, which would represent changes of -211.11% and -20.13%, respectively, from the prior year.

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It is also important to note the recent changes to analyst estimates for BB. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. BB is currently sporting a Zacks Rank of #3 (Hold).

The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 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.

To follow BB in the coming trading sessions, be sure to utilize Zacks.com.


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Zacks Investment Research