BlackBerry (BB) closed the most recent trading day at $7.94, moving -0.13% from the previous trading session. This change lagged the S&P 500's 1.22% gain on the day.
Heading into today, shares of the cybersecurity software and services company had lost 11.67% over the past month, lagging the Computer and Technology sector's loss of 3.53% and the S&P 500's loss of 1.49% in that time.
BB will be looking to display strength as it nears its next earnings release. In that report, analysts expect BB to post earnings of -$0.06 per share. This would mark a year-over-year decline of 400%.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.09 per share and revenue of $807 million, which would represent changes of -150% and -12.19%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BB. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. BB is holding a Zacks Rank of #4 (Sell) right now.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 35% 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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