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

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Zacks Equity Research
·2 min read
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BlackBerry (BB) closed the most recent trading day at $12.15, moving +1.25% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.09%. At the same time, the Dow added 1.08%, and the tech-heavy Nasdaq gained 1.23%.

BB will be looking to display strength as it nears its next earnings release. On that day, BB is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 66.67%.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.18 per share and revenue of $926 million. These totals would mark changes of +38.46% and -15.74%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for BB. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 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 holding a Zacks Rank of #2 (Buy) right now.

Investors should also note BB's current valuation metrics, including its Forward P/E ratio of 66.67. This represents a premium compared to its industry's average Forward P/E of 41.9.

The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 31% 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.

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

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Zacks Investment Research