In the latest close session, BlackBerry (BB) was down 2.51% at $6.21. This change lagged the S&P 500's daily gain of 0.19%. Elsewhere, the Dow saw an upswing of 0.19%, while the tech-heavy Nasdaq appreciated by 0.1%.
The cybersecurity software and services company's shares have seen an increase of 65.89% over the last month, surpassing the Computer and Technology sector's gain of 19.09% and the S&P 500's gain of 9.13%.
Market participants will be closely following the financial results of BlackBerry in its upcoming release. The company is forecasted to report an EPS of $0.03, showcasing a 50% upward movement from the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.17 per share and a revenue of $600.2 million, representing changes of +6.25% and +9.31%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BlackBerry. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 8.11% upward. BlackBerry is holding a Zacks Rank of #2 (Buy) right now.
With respect to valuation, BlackBerry is currently being traded at a Forward P/E ratio of 36.75. For comparison, its industry has an average Forward P/E of 19.26, which means BlackBerry is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 79, this industry ranks in the top 33% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).