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

Zacks Equity Research
·2 min read

In the latest trading session, BlackBerry (BB) closed at $4.92, marking a -0.2% move from the previous day. This change lagged the S&P 500's 4.22% gain on the day. Elsewhere, the Dow gained 4.53%, while the tech-heavy Nasdaq added 3.85%.

Prior to today's trading, shares of the cybersecurity software and services company had lost 19.84% over the past month. This has lagged the Computer and Technology sector's loss of 6.68% and the S&P 500's loss of 7.39% in that time.

Investors will be hoping for strength from BB as it approaches its next earnings release. The company is expected to report EPS of $0.04, down 63.64% from the prior-year quarter.

Investors might also notice 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.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 #2 (Buy).

Investors should also note BB's current valuation metrics, including its Forward P/E ratio of 34. This represents a premium compared to its industry's average Forward P/E of 11.91.

The Wireless Non-US industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 33% 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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