Has BlackBerry (BB) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of BlackBerry (BB), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
BlackBerry is a member of the Computer and Technology sector. This group includes 642 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. BB is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for BB's full-year earnings has moved 100% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that BB has returned about 24.19% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 16.71%. This shows that BlackBerry is outperforming its peers so far this year.
Breaking things down more, BB is a member of the Wireless Non-US industry, which includes 17 individual companies and currently sits at #74 in the Zacks Industry Rank. This group has gained an average of 5.10% so far this year, so BB is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on BB as it attempts to continue its solid performance.
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