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? One simple way to answer this question is to take a look at the year-to-date performance of BB and the rest of the Computer and Technology group's stocks.
BlackBerry is a member of our Computer and Technology group, which includes 631 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. 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 21.43% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BB has gained about 5.01% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 4.83% on a year-to-date basis. This means that BlackBerry is outperforming the sector as a whole this year.
Breaking things down more, BB is a member of the Wireless Non-US industry, which includes 18 individual companies and currently sits at #158 in the Zacks Industry Rank. On average, this group has lost an average of 9.60% so far this year, meaning that BB is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to BB as it looks to continue its solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment