BlackRock (BLK) closed at $1,147.29 in the latest trading session, marking a +1.71% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.5%. At the same time, the Dow lost 0.38%, and the tech-heavy Nasdaq lost 0.5%.
Shares of the investment firm witnessed a loss of 0.32% over the previous month, trailing the performance of the Finance sector with its gain of 1.4%, and the S&P 500's gain of 2.74%.
Market participants will be closely following the financial results of BlackRock in its upcoming release. The company is forecasted to report an EPS of $11.78, showcasing a 2.79% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $6.26 billion, up 20.45% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $47.57 per share and a revenue of $23.47 billion, representing changes of +9.08% and +15.02%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for BlackRock. 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.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% increase. Right now, BlackRock possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BlackRock has a Forward P/E ratio of 23.71 right now. For comparison, its industry has an average Forward P/E of 12.21, which means BlackRock is trading at a premium to the group.
Investors should also note that BLK has a PEG ratio of 2.16 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Financial - Investment Management industry stood at 1.29 at the close of the market yesterday.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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BlackRock (BLK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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