BlackRock (BLK) closed the most recent trading day at $1,148.17, moving +2.08% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 1.52% for the day. Elsewhere, the Dow gained 1.89%, while the tech-heavy Nasdaq added 1.88%.
Coming into today, shares of the investment firm had gained 0.57% in the past month. In that same time, the Finance sector gained 1.71%, while the S&P 500 gained 1.1%.
Investors will be eagerly watching for the performance of BlackRock in its upcoming earnings disclosure. On that day, BlackRock is projected to report earnings of $11.78 per share, which would represent year-over-year growth of 2.79%. At the same time, our most recent consensus estimate is projecting a revenue of $6.26 billion, reflecting a 20.39% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $47.57 per share and revenue of $23.47 billion. These totals would mark changes of +9.08% and +15%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.91% upward. BlackRock is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BlackRock is holding a Forward P/E ratio of 23.65. This signifies a premium in comparison to the average Forward P/E of 11.79 for its industry.
It is also worth noting that BLK currently has a PEG ratio of 2.15. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Financial - Investment Management industry held an average PEG ratio of 1.31.
The Financial - Investment Management industry is part of the Finance sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 26% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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BlackRock (BLK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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