BlackRock (BLK) ended the recent trading session at $1,068.14, demonstrating a -1.3% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.24%. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.23%.
The investment firm's stock has climbed by 5.7% in the past month, exceeding the Finance sector's gain of 3.36% and the S&P 500's gain of 1.31%.
Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. The company is predicted to post an EPS of $12.78, indicating a 7.12% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $6.75 billion, up 18.86% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $47.74 per share and a revenue of $23.98 billion, demonstrating changes of +9.47% and +17.49%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BlackRock. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 moved 0.05% lower. BlackRock is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, BlackRock is presently trading at a Forward P/E ratio of 22.67. For comparison, its industry has an average Forward P/E of 12.72, which means BlackRock is trading at a premium to the group.
Also, we should mention that BLK has a PEG ratio of 1.69. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BLK's industry had an average PEG ratio of 1.32 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 162, putting it in the bottom 35% of all 250+ industries.
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.
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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BlackRock (BLK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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